The reason boards are worried about class actions this reporting season (opens original article in a new tab)

Boards are concerned about class actions this reporting season due to a profit downgrade at Brambles that led to significant market value loss and shareholder lawsuits.

• Tom Gorman, CEO of Brambles, expressed embarrassment over a profit downgrade that reduced the company's market value by $3.1 billion.
• Shareholders sued Brambles through Maurice Blackburn and Slater and Gordon after a 16% drop in share price following the profit downgrade.