In Australia, AWB Ltd is pushing to delay a $60 million shareholder class action because it contends that it will still be sifting through 26,000 pages of documents on the proposed trial date of September 7. AWB told the Federal Court yesterday that shareholders would have to limit their demands for documents if they wanted a timely trial.
One of the documents requested by shareholders was AWB’s internal code of conduct. According to WA Today, counsel for the shareholders advised the court that:
We are told in response in a letter we received the other day that ‘there’s one person in AWB who can locate that material readily … he’s away and we don’t know when he’s going to come back’,” Mr Lee said.
“That could well be right but we would like to understand why a public company can’t find its code of conduct during a relatively short period of time.”
Subscribe to Securities Docket by Email
