Star Entertainment faces fourth class action over alleged mismanagement
Investors suffer as Star's gamble with the truth comes to light, following a fourth class action lawsuit alleging misconduct.
Australian casino operator, Star Entertainment, is facing its fourth class action in the Victorian Supreme Court, filed by law firm Shine, following allegations of mismanagement and compliance breaches.
The 308-page claim states that the company misled the market, breached continuous obligation laws and failed to make disclosures about money laundering, links to organised crime, fraud, corruption, terrorism-financing risks, and associated regulatory risks.
The class action seeks to hold the company accountable for losses suffered by investors, and Star intends to defend the lawsuit.
The company has already faced several fines related to money laundering allegations and had its Sydney casino licence suspended after an inquiry found it was unfit to run the casino.