Speciality dairy company A2 Milk says it will vigourously defend itself against a second class action to be filed against it in the Supreme Court of Victoria.
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The action filed today by Shine Lawyers followed an earlier class action filed in that court by Slater & Gordon Lawyers.
In a market statement, A2 Milk said Shine's proceeding related to the period from 19 August 2020 to 9 May 2021 and made allegations which were broadly similar to those advanced by Slater and Gordon Lawyers on 6 October.
The company's earnings and profits had recently been battered by a slide in sales in its key market China, caused largely by Covid disruptions.
That forced the company to issue four earnings downgrades in six months and saw the share price slump by around 70 percent.
Last week, A2 Milk chair David Hearn defended the board's performance in the face of volatility and uncertainty at the company's annual shareholders meeting.
He said the company had at all times complied with its disclosure obligations, denied any liability and would vigourously defend itself in the court.
