Vic: Shareholders launch $100 million class action

AAP General News (Australia)
12-18-2006
Vic: Shareholders launch $100 million class action

Shareholders of Australian property developer Multiplex .. have launched a 100 million
dollar class action against the company .. over the redevelopment of London's iconic Wembley
Stadium.

Multiplex won a contract to rebuild Wembley Stadium in September 2002.

Since then .. cost blowouts and problems with contractors have delayed construction
and caused hundreds of millions in losses.

In the Federal Court in Melbourne today .. law firm Maurice Blackburn Cashman .. lodged
a class action on behalf of shareholders of the company.

It claims shareholders are victims of Multiplex's failure to keep the market properly
informed .. about problems it was having with the one billion dollar project.

AAP RTV mok/gfr/wz/rt

KEYWORD: MULTIPLEX (MELBOURNE)

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