As noted in Newcrest’s financial statements for the year ended 30 June 2013, Slater & Gordon Lawyers indicated in a statement dated 19 July 2013 that they were preparing a potential shareholder class action against Newcrest.
Newcrest advises that it has now received correspondence from Slater & Gordon stating that they are instructed to commence a representative proceeding (shareholder class action) in the Federal Court of Australia against Newcrest in relation to Newcrest’s market disclosure prior to Newcrest’s 7 June 2013 market release.
While no proceedings have yet been commenced, Newcrest has been invited to enter into confidential and without prejudice discussions in relation to these matters, failing which Slater & Gordon advise that they have been instructed to commence proceedings.
Newcrest is considering its position in relation to this approach.
Newcrest intends to defend any proceedings if they are commenced.
For further information, please contact:
T: + 61 3 9522 5493
T: +61 3 9522 5593