Gaming machine maker Aristocrat Leisure Ltd
(ASX:ALL) says that a jury trial to determine consequential damages held in the United States District Court ruled against the company.
The purpose of the trial was to determine the recoverability of consequential damages, if any, claimed by certain bondholders.
Aristocrat says the jury found that the company did not prove that the claimant bondholders failed to take reasonable steps to mitigate their consequential damages, these bondholders will now be able to recover consequential damages.
The company says the amount of consequential damages and general damages for the company’s breach of the bond indenture will be determined by the court following further briefing by the parties.
Aristocrat says it will review the results of the Jury’s verdict and whether to proceed to appeal the decision.
Looking back over the past five years, Aristocrat Leisure’s profits have been inconsistent.
