Worley (ASX:WOR) said it is appealing a recent Australian Federal Court decision to uphold a shareholder class action lawsuit related to financial guidance, according to a Thursday filing with the Australian bourse.
The court previously ruled that the company misled investors when it issued 2013 earnings guidance.
Worley said it has a responsive insurance program, and its legal defense is largely funded by insurers.
The company's shares fell 8% in recent Thursday trade.
Toyota Motor (TYO:7203) will slash production outside Japan by about 100,000 units by around February 2027 as the de facto closure of the Strait of Hormuz affects demand overseas, Nikkei Asia reported Wednesday.The automotive giant will also slash electric vehicle production for China, the report said.Toyota did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
(Updates with the stock movement in the headline and last paragraph.)Comet Ridge (ASX:COI) received firm commitments for a two-tranche placement of new shares to existing and new investors to raise AU$40 million, according to a Wednesday Australian bourse filing.It plans to issue 390.2 million fully paid ordinary shares at an issue price of AU$0.1025 per share. The first tranche seeks to raise around AU$30.6 million utilising the company's capacity, while the second tranche seeks to raise around AU$9.4 million, subject to shareholder approval.It also plans to offer eligible shareholders the opportunity to participate via a share purchase plan to raise up to an additional AU$5 million.Comet Ridge shares declined nearly 22% in recent Wednesday trade and earlier hit their lowest level since July 2021.
Gentrack Group (ASX:GTK, NZE:GTK) completed its acquisition of airport technology and services provider Dubai Technology Partners, according to a Wednesday filing with the Australian bourse.Dubai Technology Partners has around 60 employees and will be integrated into Gentrack's Veovo airports division, the company said.