Maurice Blackburn Lawyers
Leading law firm Maurice Blackburn Lawyers has lodged a new class action against Crown Resorts Limited alleging the company’s governance and risk management failings caused a massive share price plunge in October.
Crown’s share price fell over 8 per cent on October 19 after news emerged that anti-money laundering agency AUSTRAC had initiated a formal enforcement investigation into Crown, having identified potential non-compliance by Crown Melbourne with anti-money laundering (AML) financing laws.
Maurice Blackburn Lawyers on Friday lodged the new class action with the Supreme Court of Victoria alleging Crown had engaged in misleading or deceptive conduct during the period from 11 December 2014 to 19 October 2020 by representing that it had robust or effective systems for ensuring compliance with its AML obligations, including as they applied to its VIP international business and engagement with overseas junket tour operators, and had not disclosed rel