The beleaguered Centro Properties Group is facing a series of potential hefty class actions after it was revealed at the weekend that its current liabilities were understated by about $1.5 billion in its annual accounts.
A solicitor and partner at William Roberts Lawyers, Robert Ishak, said the threat of class actions against Centro was growing.
“Not only does the latest report of an additional $1.5 billion in current liabilities give additional ammunition to the disgruntled security holders from the mid December fallout but it may have increased the exposure of Centro to additional security holder claims and may also have implications for Centro’s auditors,” Mr Ishak said.
read more Sydney Morning Herald article – Investors ponder suing Centro
