Myer Holdings Limited
(ASX:MYR) has vowed to vigorously defend legal action taken against it by shareholders.
The proceedings against the department store retailer are in relation to statements made about the company’s anticipated financial results.
Disgruntled shareholders allege loss and damage resulting from the statements after which the company posted a step profit fall.
The writ against Myer has been filed by Portfolio Law on behalf of Melbourne City Investments.
Myer Holdings' net profit fell 23 per cent to $62.15 million in the first half of the 2015 financial year.
