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Fletcher Building Limited (ASX:FBU)

ALERT: Price-sensitive ASX Announcement for FBU
Current share price for FBU : $3.050 0.23 (8.16%)+
Announcement
Release
6 Aug 2024 1:42PM
Price at Release
$2.820
Full Release
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Summary
Fletcher Building Limited (FBU) acknowledged a class action proceeding filed in the Federal Court of Australia against its subsidiary, Iplex Pipelines Australia (Iplex). The class action, served by Baker McKenzie, involves claims from individuals who acquired polybutylene pipes manufactured by Iplex using Typlex-1050 resin. Related disclosures were previously made by FBU regarding these pipes under the name 'Pro-fit'. Iplex plans to defend the proceedings.
Key Points
  • Fletcher Building Limited (FBU) acknowledged a class action proceeding filed in the Federal Court of Australia.
  • The class action was served on its subsidiary, Iplex Pipelines Australia (Iplex), by the law firm Baker McKenzie.
  • The proceeding is on behalf of persons who acquired polybutylene pipes manufactured by Iplex composed of a resin known as Typlex-1050.
  • FBU has made previous disclosures regarding polybutylene pipes under the name 'Pro-fit', which is related to this claim.
  • Iplex intends to defend the proceedings.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.