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Worley Considers Appeal as Federal Court Upholds Shareholder Class Action Related to 2013 Guidance

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Worley (ASX:WOR) is considering a potential appeal of an Australian Federal Court decision to uphold a shareholder class action lawsuit related to financial guidance, according to a Friday filing with the Australian bourse.

The court on Thursday ruled that the company misled investors when it issued 2013 earnings guidance, upholding an earlier appeal filed by the shareholders, and ordered Worley to pay the applicant's legal costs.

The company said it has "continued to strengthen its governance frameworks over many years," adding that it will "consider this judgment and its position on any appeal."

Worley shares fell 1% in recent Friday trade.

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