Vocus Group (ASX:VOC) settles class action

Company News

by Rachael Jones

Vocus Group (ASX:VOC) has reached an agreement to settle the class action started against it in April 2019 in the Federal Court of Australia.

The settlement of the class action, which is without admission of any liability, is subject to Federal Court approval.

The settlement amount is $35 million inclusive of interest and costs. Vocus will contribute $3.5 million to the settlement, which will be reported as a significant item below underlying EBITDA.

Shares in the Vocus Group (ASX:VOC) are trading 2.4 per cent higher at $3.02.