INTRODUCTION Abel Sports is Australia’s leading manufacturer and suppliers of Goal Posts, sports ground safety netting systems and coaches boxes for Stadiums ,Sports Clubs, Councils and…read more
Ardent Leisure shareholders launch class action over Dreamworld deaths
The Ardent Leisure Group has acknowledged that it has been served with a shareholder class action as a result of the deaths of four people at Dreamworld on the Gold Coast in October 2016.
The proceedings have been filed by Piper Alderman in the Federal Court of Australia on behalf of people who acquired shares in Ardent between 17th June 2014 and 25th October 2016 and allege contraventions of the Corporations Act.
In a statement to the ASX acknowledging the legal action, the company advised “Ardent strongly denies any contraventions as alleged and believes the proceedings to be without merit.
“Ardent intends to vigorously defend the proceedings.”
The company said it would keep its shareholders informed of any developments in the class action.
Earlier this year, an inquest into the deaths of four people on Dreamworld's Thunder River Rapids ride at Dreamworld in 2016 found a “systemic failure” in all safety aspects leading up to the incident.
The Queensland Coroner’s report warned the company could face fines up to $3 million if convicted of suspected breaches of workplace law.
Dreamworld is currently closed as a result of the Coronavirus pandemic and, experiencing losses reported to be a much as $10 million a week, has yet to announce when it will reopen.
29th April 2020 - AALARA updates members on attractions sector challenges
25th February 2020 - Ardent Leisure shares fall after critical Coroner’s report into Dreamworld tragedy
25th February 2020 - Ardent Leisure faces possible prosecution over 2016 ride deaths
24th February 2020 - AALARA highlights Australian theme parks’ ongoing safety commitments
8th February 2020 - Dreamworld permanently closes Rocky Hollow Log Ride
8th April 2019 - Ardent Leisure borrows $225 million for attractions investment
13th March 2019 - Ardent Leisure shares hit seven-year low
7th December 2018 - Dreamworld reputation savaged at inquest
22nd November 2018 - Ardent Leisure reveals theme park investment strategy
22nd August 2018 - Ardent Leisure losses grow as Dreamworld’s value declines by $75 million
30th June 2018 - Ardent Leisure issues statement of apology over Dreamworld deaths
29th September 2017 - Gary Weiss takes on Chairman’s role at Ardent Leisure
4th September 2017 - Ardent Leisure invites rebel shareholders to join board
23rd February 2017 - Dreamworld closure drags Ardent Leisure to $49 million half year loss
9th February 2017 - Dreamworld tragedy causes dive in Ardent Leisure revenue
2nd November 2016 - Ardent Leisure share price continues to fall amid safety scrutiny
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