The Star faces fourth shareholder class action

Attorneys from law firm Shine have filed a shareholder action against Star Entertainment in the Victorian Supreme Court.

Australia.- A day after announcing it was facing a third class action, The Star Entertainment Group has been served with a statement of claim for a securities class action in the Supreme Court of Victoria. 

The new lawsuit filed by Shine Lawyers claims that between March 29, 2016, and May 25, 2022, The Star misled and failed to disclose crucial information about its compliance with anti-money laundering and counterterrorism financing obligations, its dealings with junkets and its account with the Bank of China Macau, and China Union Pay transactions. 

The allegations are similar to those in separate securities class actions filed by Slater & Gordon (announced on March 30, 2022), Maurice Blackburn (announced on November 7, 2022), and Phi Finney McDonald (announced on February 6, 2023). The Star said it intends to defend itself in all proceedings.