Wednesday, 13 October 2021 11:00

Class action

Written by  Milking It

The news has gone from bad to worse for a2 Milk - the company Synlait had hitched its wagon to.

Once the darling of the stock exchange, the milk processor a2 Milk has been struggling since Covid-19 decimated its infant formula business in China.

Now Australian law firm Slater & Gordon says it has filed a claim against a2 Milk in the Supreme Court of Victoria. The claim is in relation to its disclosure over a nine-month period when it announced four earnings downgrades.

The claim is being brought on behalf of shareholders who allegedly suffered losses after acquiring a2 Milk shares on the ASX and NZX between August 19, 2020 and May 9 2021.

a2 Milk said it had been notified of the legal action and will vigorously defend the proceeding.

More like this

Synlait snag

OPINION: Canterbury milk processor Synlait's recovery seems to have hit another snag.

It's all about economics

OPINION: According to media reports, the eye-watering price of butter has prompted Finance Minister Nicola Willis to ask for a 'please explain' from her former employer Fonterra.

Red line on dairy

OPINION: As India negotiates to open its borders to more global products, dairy is proving a sticky issue.

Farmland security

OPINION: Paranoia about foreigners is at an all-time high in the US and attention is now turning to foreign-owned farmland.

Featured

Farewell Jim

In a few hundred words it's impossible to adequately describe the outstanding contribution that James Brendan Bolger made to New Zealand since he first entered politics in 1972.

Nichol is new PGW chair

A day after the ouster of PGG Wrightson’s chair and his deputy, the listed rural trader’s board has appointed John Nichol as the new independent chair.

National

Machinery & Products

» Latest Print Issues Online

Milking It

Fonterra vote

OPINION: Voting is underway for Fonterra’s divestment proposal, with shareholders deciding whether or not sell its consumer brands business.

Follow the police beat

OPINION: Politicians and Wellington bureaucrats should take a leaf out of the book of Canterbury District Police Commander Superintendent Tony Hill.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter