Leighton class action filed

Construction group denies claim, will defend action alleging legal breaches.

Leighton Holdings (LEI) says it will vigorously defend a class action that has been filed in the Federal Court by Maurice Blackburn.

In a statement to the Australian Securities Exchange, Leighton again denied the claim.

The action from Melbourne lawyer and investor Mark Elliott alleges Leighton breached its obligations in corporations law by failing to disclosure bribery and corruption allegations and an investigation of misbehaviour involving senior officers.

Fairfax Media this month published the results of a six-month investigation, suggesting senior executives were aware of improper behaviour in Leighton's international business (see Robert Gottliebsen's Deconstructing Leighton's problems). 

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles