a2 Milk Agrees to Settle Shareholder Class Action Lawsuits for AU$62 Million Without Admitting Liability
MT Newswires Live
Apr 07
The a2 Milk Company (ASX:A2M, NZE:ATM) said an in-principle agreement was reached to settle two consolidated shareholder class action proceedings brought against the firm in the Supreme Court of Victoria for AU$62 million, and that it made no admission of liability, according to Tuesday's Australian and New Zealand bourse filings.
The full settlement amount will be met by available insurance proceeds, with no impact on fiscal year 2026 earnings, it said. The settlement is subject to a deed of settlement and court approval.
The lawsuit was brought against the firm in October 2021 and November 2021, and they relate to its disclosures and guidance for the fiscal year 2021.
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