Leighton Holdings Limited
(ASX:LEI) says it will vigorously defend claims being made in a class action related to allegations of corruption in the company.
Melbourne solicitor Mark Elliott is seeking damages in the Victorian Supreme Court on behalf of 10,000 shareholders after more than $957 million was wiped off the market value of Leighton shares in two days in October.
Leighton had previously informed the market it had referred possible breaches of its code of ethics to the Australian Federal Police.
Mr Elliott has accused the construction giant of breaching corporate continuous disclosure laws.
Leighton says it strongly denies Mr Elliott's claim that Leighton has failed to meet its disclosure obligations.
Leighton generated a net profit of $360.2 million in the first half of fiscal 2013.
