A class action has been filed on behalf of investors in the Star Entertainment Group amid a damning public inquiry into the group's casino operations in Sydney.
The class action alleges Star led investors to believe the group was a model casino operator when, in reality, it was failing to mitigate corruption, money laundering and bribery. "When investors purchase shares in a listed company, they are entitled to assume that all of the material information relevant to its financial position had been disclosed to the market," class actions senior associate Ben Zocco said.
Didn't worry about who was getting hurt while the money kept rolling in. Investors public registry proposal.
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