United Kingdom
United States
Asia Pacific
Ardent Leisure facing shareholder lawsuit over deadly Dreamworld accident
Theme park operator Ardent Leisure Group is facing a shareholder class action lawsuit tied to the 2016 fatal accident at the Dreamworld theme park.
The suit was filed in the Federal Court of Australia alleging the company wilfully misled investors about its safety record, which led to an inflated share price.
It impacts investors who purchased shares from mid-2014 until October 25, 2016, the date of the accident.
Four guests died when two rafts collided and flipped over on the Thunder River Rapids Ride.
The coroner was heavily critical of the safety culture at the park and ‘failed to take any steps to rectify’ safety issues over past years.
"We believe Ardent’s failure caused harm not only to all those directly affected by the incident, but also to the group’s shareholders who were misled into thinking Dreamworld was a secure investment operating at the highest safety standards," said lawyer Greg Whyte.
Ardent Leisure said the lawsuit is ‘without merit’ and ‘strongly denies any contraventions as alleged.’
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Dozens fall ill in P&O Cruises ship outbreak
Woman dies after getting ‘entangled’ in baggage carousel