Worldwide Sports Management
Principal Consultant Simon Weatherill has spent the last 20 years developing the world renowned Melbourne Sports Hub, as former Chief Executive Officer of the State Sports Centres Trust…
read moreThe 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.
17th June 2020 - Village Roadshow announces reopening schedule for Gold Coast theme parks
8th June 2020 - Queensland Government delivers financial support to safeguard attraction industry workers
5th June 2020 - Ardent and Village Roadshow look for early reopening of Gold Coast theme parks
5th June 2020 - Approval of Industry Plan sets path for reopening of Queensland’s swimming pools and aquatic centres
27th May 2020 - AALARA releases guide for the reopening of Australia’s attractions industry
22nd May 2020 - Financial impact of Coronavirus puts new rides at Gold Coast theme parks on hold
19th May 2020 - Queensland Government provides emergency funding for theme parks and wildlife attractions
15th May 2020 - Industry considers economics of post-Coronavirus reopening with limited numbers
29th April 2020 - AALARA updates members on attractions sector challenges
28th March 2020 - IAAPA reveals recommendations for closing and reopening theme parks impacted by COVID-19
23rd March 2020 - Gold Coast theme parks ‘temporarily close’ in reaction to Coronavirus crisis
25th February 2020 - Ardent Leisure shares fall after critical Coroner’s report into Dreamworld tragedy
25th February 2020 - Queensland Government announces acceptance of Coroner’s findings into 2016 Dreamworld ride deaths
25th February 2020 - Ardent Leisure faces possible prosecution over 2016 ride deaths
24th February 2020 - AALARA highlights Australian theme parks’ ongoing safety commitments
24th February 2020 - Coroner’s report on Dreamworld fatalities exposes Ardent Leisure to prosecution for multiple safety breaches
8th February 2020 - Dreamworld permanently closes Rocky Hollow Log Ride
28th June 2019 - Ardent Leisure facing potential $80 million liability in wake of Dreamworld inquest
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
25th June 2018 - Inquest evidence causing ‘irretrievable’ damage to Dreamworld’s reputation
29th September 2017 - Gary Weiss takes on Chairman’s role at Ardent Leisure
4th September 2017 - Ardent Leisure invites rebel shareholders to join board
24th May 2017 - Ardent looks to quash Dreamworld sale rumours, explores site rezoning plan
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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