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Harvey Norman to ‘vigorously’ defend new class action

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The news: White goods retailer Harvey Norman is facing class action proceedings in connection with the promotion of interest-free payment plans by Latitude Finance Australia.

The context: The proceedings include claims for restitution, payment of damages, to declare any relevant consumer agreements with Latitude Finance Australia as null and void, interest and costs for the first plaintiff, second plaintiff and group members.

Harvey Norman, which is listed as the second defendant, said it “intends to defend the proceedings vigorously”.

Shares were down 0.6% to $6.32 at 1pm AEDT.

The source: ASX


By Hugo Mathers