Harvey Norman slips as court rules for Australia's corporate watchdog

Harvey Norman Holdings

18/10/2024 01:38

** Shares of Australia's Harvey Norman Holdings  HVN.AX 
slip as much as 1.3% to A$4.855, hitting their lowest level
since Oct 16
    ** Co says Federal Court of Australia ruled in favour of the
country's corporate regulator for proceedings brought against
HVN
    ** On Sept 18, co and unit received statement of claim about
a class action in connection with product care rights sold by
franchisees to customers
    ** Co adds hearing to determine any penalty is likely to be
scheduled for next year, will review reasons before a likely
appeal
    ** Stock up 17.1% YTD, as of last close

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