Star Entertainment Group, as our experts explain in this article, was brought to court by investors after starting a class action con Slater & Gordon.
All because of a loss of over 25% on the actions of Star caused, apparently, by some reports of October 2022 from which SEmbre would have not respected its obligations against money laundering.
Public hearings are still in progress, but to know more about this story, do not miss the next paragraphs of this article.
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Star Entertainment brought to court: the reasons
Star Entertainment was brought to court by investors who now they are looking for compensation for "misleading or misleading representations" made by the operator.
The class action was presented to the Victoria Supreme Court (The same as the Crown case), in Australia. It refers to those who have invested in the company's shares between March 29, 2016 and March 16, 2022.
It would seem, in fact, that Star Entertainment has carried out relationships with "High-Roller" players. Players who It is thought to be associated with criminal operations And, upon exiting these reports in 2022, the group shares lost over 25%.
What is Slater & Gordon?
Slater & Gordon Lawyers, the lawyers chosen by investors who go against Styar Entertainment and who have brought it to court, are decidedly famous in Australia.
The group is based on Melbourne, Victoria, and it was founded in 1935.
They also have offices in other countries and are a group Also famous in England, Scotland and Wales.
The declarations
On Star Entertainment Group which is brought to court Both shareholders and lawyers spoke.
Ben Zocco, Senior associated for the class action of Slater & Gordon, said: “For the last six years, Star has claimed to be a model casino operator who took his obligations seriously and followed not only the letter of the law, but the spirit of the law ".
And then added: “Star insisted in saying that he took conformity seriously and managed his business ethically, honest and integrity. Our investigations to date, in addition to the extraordinary tests revealed so far in the Bell investigation, suggest that they have done the opposite. "
“When investors acquire shares of a listed company, they have the right to assume that all material information relating to its financial position have been disclosed market", he said.
And he then concluded by saying on Star Entertainment brought to court: “Our case is that Star did not do it. Therefore, investors are entitled to compensation for their losses ".
