In numerous prior posts, I have noted the phenomenon of securities suits following on in the wake of governmental regulatory or enforcement action. This phenomenon is well-established in the U.S. Now it apparently is catching on outside the U.S. as well. Earlier this week, an Australia plaintiffs’ law firm filed a securities suit in an Australian court against Crown Resorts, Ltd. relating to the decline in the company’s share price that followed after Chinese authorities arrested several company employees on gambling- related charges.
via Resort Company Hit with Follow-On Securities Suit in Australia | The D&O Diary
