Maurice Blackburn, a personal injury and compensation lawyer, has served a statement of claim on Star Entertainment Group.<\/p>\n\n\n\n\n\n\n\n
Australia.- The Star Entertainment Group Limited <\/strong>has reported in a company filing that it has been served with a statement of claim for a securities class action<\/strong> at the Supreme Court of Victoria. The action was lodged by Maurice Blackburn, a personal injury and compensation lawyer.<\/p>\n\n\n\n The casino operator said it intends to defend <\/strong>itself against the claim. However, the news caused Star’s shares to fall by 23 per cent, losing around $1bn in shareholder value.<\/p>\n\n\n\n The company said: “The claim alleges that in the period between 29 March 2016 and 16 March 2022, The Star made misleading representations, including about its systems and processes for compliance with anti-money laundering and counter-terrorism financing obligations, that it failed to disclose relevant information it had about those matters to the market, and conducted its affairs contrary to the interests of the members of The Star as a whole.”<\/p>\n\n\n\n A week ago, The Star<\/a> reported that two of its subsidiaries have received show-cause notices<\/strong> from the Queensland regulator, the Office of Liquor and Gaming Regulation (OLGR). Notices have been served on The Star Entertainment Qld Limited as Brisbane licensee and Star Gold Coast lessee. The Star Entertainment Qld Custodian Pty Ltd has been served notice as licensee of The Star Gold Coast. <\/p>\n\n\n\n The notices relate to issues arising from the independent external review of the Star\u2019s Queensland casinos<\/a> undertaken by the Honourable Robert Gotterson AO, from Adam Bell SC\u2019s report for New South Wales<\/a>, OLGR\u2019s own investigation and the attorney-general\u2019s response<\/a>. The Star Entertainment Group has until November 25 to demonstrate why disciplinary action should not be taken. <\/p>\n","protected":false},"excerpt":{"rendered":" Maurice Blackburn, a personal injury and compensation lawyer, has served a statement of claim on Star Entertainment Group.<\/p>\n","protected":false},"author":176,"featured_media":25794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Star Entertainment Group faces a securities class action in Victoria's Supreme Court, alleging misleading representations regarding AML\/CTF compliance between 2016 and 2022, which led to a 23% share price decline. Concurrently, the casino operator's Queensland subsidiaries have received show-cause notices from the OLGR concerning regulatory compliance issues identified in independent reviews.","focusai_entities":"Maurice Blackburn, Star Entertainment Group, The Star Entertainment Qld Limited, Star Gold Coast, The Star Entertainment Qld Custodian Pty Ltd, Office of Liquor and Gaming Regulation, Honourable Robert Gotterson AO, Adam Bell SC","focusai_location":"Australia, Victoria, Queensland, New South Wales, Brisbane, Gold Coast","focusai_target_profile":"ceo_executive (0.95), regulator (0.98), compliance_legal (0.97), operator_casino (0.9), investor_analyst (0.99), supplier_vendor (0.75), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Governance Framework Impact","query":"What specific deficiencies in Star Entertainment Group's governance frameworks and internal controls facilitated the alleged AML\/CTF compliance failures and subsequent class-action litigation?"},{"label":"Regulatory Action Outlook","query":"What are the potential outcomes and financial implications for Star Entertainment Group's Queensland operations following the OLGR's show-cause notices, particularly concerning license stability and operational continuity?"}],"footnotes":""},"categories":[16336,439],"tags":[23871],"class_list":["post-35159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-legal-news","tag-the-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=35159"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35159\/revisions"}],"predecessor-version":[{"id":35185,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35159\/revisions\/35185"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25794"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=35159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=35159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=35159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}