Australia's Retail Food Group falls on class action lawsuit

Retail Food

19/10/2021 02:04

** Shares of Retail Food Group  RFG.AX  fall as much as 4.7%
to A$0.081, their biggest intraday percentage loss since Sept 28
    ** The food and beverages co Says it has accepted a class
action lawsuit filed against it by Michel's Patisserie brand
system in the Federal Court of Australia  urn:newsml:reuters.com:*:nASX8yrR34
    **  Says proceedings relate to the historical conduct and
operation of the Michel's Patisserie brand system under former
RFG leadership, including changes implemented to the supply
chain from 2015 to 2016
    ** RFG denies the allegations raised against it and its
related entities, and will be defending the proceedings
    ** Stock up 4.9% this year as of last close 

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))