Australia's G8 Education falls on settlement of class action lawsuit

G8 Education

25/03/2024 01:21

** Shares of G8 Education  GEM.AX  fall as much as 2.8% to
A$1.215, their lowest level since March 20
    ** Stock faces worst day since March 18, if losses hold 
    ** The childcare centre operator says it has reached a
binding agreement to settle the class action commenced against
it by Slater & Gordon in Nov 2020
    ** Co adds settlement is without admission of liability,
with total full and final settlement amount agreed to be A$46.5
mln ($30.30 mln)
    ** Stock has risen 5.9% this year, as of last close
    
    
    ($1 = 1.5344 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))