Lendlease to defend second class action

Company News

by Rachael Jones

Lendlease (ASX:LLC) is defending a proceeding filed in the Supreme Court of NSW brought on behalf of securityholders who acquired an interest in Lendlease ’s stapled securities or American Depositary Receipts in the period from 17 October 2017 to 25 February 2019.

They have been served with a representative proceeding which names Lendlease Corporation and Lendlease Responsible Entity as responsible entity of the Lendlease Trust as defendants.

Filed by Phi Finney McDonald, the proceeding makes similar allegations to those advanced in a separate representative proceeding started against Lendlease by Maurice Blackburn on 18 April 2019.

Lendlease denies any liability and will vigorously defend the proceedings.

Shares in Lendlease (ASX:LLC) are trading 0.58 per cent lower at $13.79.