Surfwear Retailer Billabong Rejects Shareholder Court Action

Billabong International intends to reject a shareholder class action claim over market disclosures it made in 2011, that is, the earnings downgrade that resulted in massive share price falls.

The struggling surfwear retailer said on Thursday that it had received notice of the said lawsuit from the Federal Court of Australia.

A year ago, Australian law firm […]