CASES
Leighton Holdings Limited (Australia)
Class Period: Nov 2, 2010 to Apr 11, 2011
Lead Plaintiff Deadline: Oct 28, 2011 + Deadline passed
Summary of Case:
A securities class action has been filed against Leighton Holdings Limited ("Leighton") on behalf of shareholders of Leighton who purchased or acquired an interest in shares between November 02, 2010 to April 11, 2011. This case has been filed in the USDC - California (Central).
The claims allege that on February 14, 2011, Australian construction firm Leighton announced an estimated a full year profit of $480 million. Then on April 11, this had turned into a $427 million loss. As a result, Leighton's share price dropped 14 percent from a close of $28.94 on April 8, 2011 to $24.93 when trading commenced after the April 11 announcement. The statement of claim will allege that Leighton failed to disclose information pertaining to cost overruns and delays on three key matters which a reasonable person would expect to have a material effect on the price or value of Leighton shares: the Airport Link and Victorian Desalination Plant construction projects, and the carrying value of its interest in the Dubai-based Al Habtoor Leighton Group.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.