Tourism

Ardent Leisure hit with shareholder class action over Dreamworld tragedy

Huntley Mitchell

Huntley Mitchell

Ardent Leisure has acknowledged that a shareholder class action has been served against it in connection with the Dreamworld tragedy in 2016.

The proceedings have been filed by Piper Alderman in the Federal Court of Australia on behalf of people who acquired shares in Ardent between 17 June 2014 and 25 October 2016 and allege contraventions of the Corporations Act.

“Ardent strongly denies any contraventions as alleged and believes the proceedings to be without merit,” the company said in a statement on the ASX.

“Ardent intends to vigorously defend the proceedings.”

The company said it would keep its shareholders informed of any developments in the class action.

Earlier this year, an inquest into the deaths of four people on the Thunder River Rapids ride at Dreamworld theme park ride found a “systemic failure” in all safety aspects leading up to the incident.

The coroner’s report warned Ardent Leisure could face fines up to $3 million if convicted of suspected breaches of workplace law.


Featured image: iStock/catchlights_sg

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