EML Payments Agrees In Principle to AU$37.4 Million Settlement Over Shareholder Class Action Lawsuit, Shares Jump 7%

MT Newswires Live

2025/06/25

EML Payments (ASX:EML) signed an in-principle agreement to settle a shareholder class action lawsuit for AU$37.4 million related to alleged misleading and deceptive conduct and breach of continuous disclosure obligations, in the Supreme Court of Victoria, according to a Wednesday Australian bourse filing.

The lawsuit was brought against the firm in 2022 by Shine Lawyers on behalf of shareholders who had acquired a stake in EML during the period from Dec. 19, 2020, to May 19, 2021, and from Aug. 18, 202,1, to July 25, 2022.

In settling, EML makes no admission of liability.

The settlement is subject to the execution of a deed of settlement and approval by the Supreme Court of Victoria.

The firm's shares jumped 7% in recent trading on Wednesday.

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