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Brambles to Appeal Federal Court Judgment in Guidance-Related Class Action

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Brambles (ASX:BXB) is appealing an Australian Federal Court judgment in class-action proceedings brought by shareholders who acquired stakes in the company between August 2016 and February 2017, according to a Wednesday filing with the Australian bourse.

The shareholders alleged that the company made misleading guidance disclosures during that period. The court previously dismissed several claims but upheld some related to underlying profit growth forecasts for fiscal 2017.

Brambles said it has insurance arrangements in place.

The company's shares gained 1% in recent Wednesday trade.

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