Piper Alderman has been instructed to commence a shareholder class action against Ardent Leisure Group, in relation to the tragic accident which claimed four lives at the Dreamworld Theme Park on 25 October 2016. The claim has been under investigation for 2 years.
The claim alleges Ardent misled investors about the safety measures and corporate governance standards in place at Dreamworld in the years preceding the accident causing Ardent’s shares to trade at an artificially inflated price.
Piper Alderman believes Coroner McDougall’s findings from his Coronial Inquest into the incident provide support for these allegations.
The class action alleges that the contravening conduct giving rise to shareholder losses occurred while it traded as a stapled security between 17 June 2014 and 25 October 2016 (ASX:ALG; formerly ASX:AAD). Shareholders who acquired shares in Ardent during this period are invited to register their interest.
Register for the Ardent Class Action by clicking here.