{"id":274,"date":"2024-06-28T06:57:50","date_gmt":"2024-06-28T03:57:50","guid":{"rendered":"https:\/\/mrocasinonodepositbonus.icu\/2024\/06\/28\/investors-sue-star-entertainment-over-alleged-misleading-information\/"},"modified":"2024-06-28T06:57:50","modified_gmt":"2024-06-28T03:57:50","slug":"investors-sue-star-entertainment-over-alleged-misleading-information","status":"publish","type":"post","link":"https:\/\/mrocasinonodepositbonus.icu\/2024\/06\/28\/investors-sue-star-entertainment-over-alleged-misleading-information\/","title":{"rendered":"Investors Sue Star Entertainment Over Alleged Misleading Information"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/pD734AKB0jc\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A group of investors has filed a legal claim against Star Entertainment Group, alleging the company provided inaccurate information about its adherence to legal requirements. <\/p>\n<p>The legal action, filed in the highest court of Victoria, Australia, covers individuals who bought shares during a specific period. <\/p>\n<p>The extensive legal document claims that Star Entertainment Group presented itself as a morally upright and accountable gambling business, complying with its legal and regulatory responsibilities.<\/p>\n<p>However, the legal team cites media reports from late 2021 that accused Star Entertainment Group of associating with high-stakes gamblers with ties to criminal activity or foreign governments, and failing to comply with anti-money laundering and counter-terrorism financing regulations.<\/p>\n<p>Following these reports, Star Entertainment Group&#8217;s share value dropped significantly, resulting in a substantial loss in market value.<\/p>\n<p>These accusations prompted the Independent Liquor and Gaming Authority of New South Wales to initiate an investigation in 2021 to determine if Star Entertainment Group remains qualified to hold a casino license. <\/p>\n<p>This month, the extent of the probe was broadened to examine other organizations within the group.<\/p>\n<p>Public hearings for the investigation are still in progress, and so far, the hearings have heard a variety of claims, including that Star permitted VIP room operator Suncity to operate its own enclosures at Star Sydney casino, where chips were exchanged for cash, despite this being a breach of New South Wales gambling control regulations.<\/p>\n<p>This week, Star&#8217;s long-time chief executive and managing director Matt Bekier stepped down due to the issues raised in the Star Sydney review.<\/p>\n<p>The case also claims that Star&#8217;s statements about developing policies to reduce risks such as money laundering, corruption, bribery, insider trading, and gambling product usage limits were misleading or deceptive.<\/p>\n<p>Moreover, the lawsuit alleges that any behavior by Star&#8217;s directors or employees that is inconsistent with the company&#8217;s values \u2013 values that are meant to help maintain its reputation and protect the wider community from harm \u2013 will not be tolerated.<\/p>\n<p>Slater &#038; Gordon referenced the Bergin Inquiry into rival operator Crown Resorts, which began in 2019 and last year ruled that Crown Resorts was not suitable to operate a casino at Barangaroo in Sydney, as evidence showed that its facilities and accounts were used for money laundering.<\/p>\n<p>Bekier publicly stated in 2019 that despite operating in the same market, Star had conducted extensive due diligence on its business partners. <\/p>\n<p>In that moment, Bekier declared: &#8220;I am certain that we are making every effort to run a lawful and ethical business&#8230; [and] I am convinced that all our actions are legal and have been carried out in a manner that should provide us and our shareholders with assurance that we are acting appropriately.&#8221;<\/p>\n<p>Zoko mentioned that their examination into whether shareholders have a claim against Star Entertainment commenced last October, and the analysis conducted thus far indicates that investors have a compelling case. Zoko is a senior legal professional at Slater and Gordon class action.<\/p>\n<p>&#8220;For the past six years, Star Entertainment has portrayed itself as a exemplary casino operator, diligently fulfilling its responsibilities, not only adhering to the letter of the law but also its spirit,&#8221; Zoko stated.<\/p>\n<p>&#8220;Star Entertainment maintains that it takes adherence to regulations seriously and conducts its operations with ethics, honesty, and integrity. Our investigation to date, and the exceptional evidence revealed so far in the Bell inquiry, suggest that all their actions contradict these assertions.<\/p>\n<p>&#8220;When investors acquire shares in a publicly listed company, they have the right to assume that all significant information relevant to the company&#8217;s financial standing has been disclosed to the market,&#8221; he remarked.<\/p>\n<p>&#8220;Our assertion is that Star Entertainment failed to do this, and therefore, investors are entitled to reimbursement for their financial losses.&#8221; <\/p>\n<p>The lead litigant, David Lynch, conveyed his dissatisfaction with the declining value of his stock holdings. He expressed worries that Star Entertainment might have deceived investors, suggesting a higher level of adherence to regulations than actually existed.<\/p>\n<p>&#8220;As a stakeholder, I anticipate that listed, authorized operators will adhere to legal mandates and have suitable controls in place to guarantee compliance. I am taken aback by the apparent violations revealed at the public hearing,&#8221; Lynch declared.<\/p>\n<p>In response to the legal action, Star Entertainment confirmed receipt and indicated its intention to refute the accusations.<\/p>\n<p>Sign up for the iGaming news bulletin. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A group of investors has filed a legal claim against Star Entertainment Group, alleging the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Star Entertainment Sued: Investors Claim Misleading Info<\/title>\n<meta name=\"description\" content=\"Investors are suing Star Entertainment Group in Australia, alleging the company misled them about its compliance with legal requirements.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mrocasinonodepositbonus.icu\/2024\/06\/28\/investors-sue-star-entertainment-over-alleged-misleading-information\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Investors Sue Star Entertainment Over Alleged Misleading Information\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Investors are suing Star Entertainment Group in Australia, alleging the company misled them about its compliance with legal requirements.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mrocasinonodepositbonus.icu\/2024\/06\/28\/investors-sue-star-entertainment-over-alleged-misleading-information\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Stay Ahead of the Game with Our Licensed Online Casino Updates\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T03:57:50+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mrocasinonodepositbonus.icu\/2024\/06\/28\/investors-sue-star-entertainment-over-alleged-misleading-information\/\",\"url\":\"https:\/\/mrocasinonodepositbonus.icu\/2024\/06\/28\/investors-sue-star-entertainment-over-alleged-misleading-information\/\",\"name\":\"Star Entertainment Sued: Investors Claim Misleading Info\",\"isPartOf\":{\"@id\":\"https:\/\/mrocasinonodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-28T03:57:50+00:00\",\"dateModified\":\"2024-06-28T03:57:50+00:00\",\"author\":{\"@id\":\"https:\/\/mrocasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Investors are suing Star Entertainment Group in Australia, alleging the company misled them about its compliance with legal requirements.\",\"breadcrumb\":{\"@id\":\"https:\/\/mrocasinonodepositbonus.icu\/2024\/06\/28\/investors-sue-star-entertainment-over-alleged-misleading-information\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/mrocasinonodepositbonus.icu\/2024\/06\/28\/investors-sue-star-entertainment-over-alleged-misleading-information\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/mrocasinonodepositbonus.icu\/2024\/06\/28\/investors-sue-star-entertainment-over-alleged-misleading-information\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/mrocasinonodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Investors Sue Star Entertainment Over Alleged Misleading Information\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/mrocasinonodepositbonus.icu\/#website\",\"url\":\"https:\/\/mrocasinonodepositbonus.icu\/\",\"name\":\"Stay Ahead of the Game with Our Licensed Online Casino Updates\",\"description\":\"Experience the best of licensed online gambling through our fresh casino news, honest reviews, and expert articles. 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