Bellamy’s Australia Limited
(ASX:BAL) has announced it has been served with a class action proceeding by law firm Slater & Gordon.
The claim is being bought on behalf of shareholders who acquired an interest in Bellamy’s shares between the 14 April and 12 December 2016.
The statement of claim centres around allegations the company contravened the Corporations Act in relation to misleading and deceptive conduct and continuous disclosure obligations.
Bellamy’s has indicated it will vigorously defend the proceedings.
Bellamy’s Australia Limited last reported a net profit of $38.3M for the year ending 30 June 2016.
