Murray Goulburn Co-operative Co Limited (ASX:MGC) has announced that a class action has been filed against it and a number of current and former directors in the Supreme Court of Victoria.
The company confirmed that it was served with a statement of claim this morning.
It is alleged that the company breached the Corporations Act by making misleading or deceptive statements in a PDS and subsequent market announcements.
The company strongly denies there is a proper basis for this class action, and says that it will vigorously defend the proceedings.
Murray Goulburn Co-Operative reported a net profit of $9.28 million at 31 December 2015.