Retail Giant Myer Sued By Shareholder After Profit Downgrade

Australia’s largest department store group, Myer Holdings, is facing a lawsuit by a shareholder who claims “loss and damage” due to 23% fall in profit.

The claim states that shareholders have been led to believe that profits would be higher.

Melbourne City Investments Pty Ltd (MCI) has launched legal proceedings against the retailer over losses resulting from statements […]