Super Retail Group shares down after flagging court claims
Make us a preferred source
Make us a preferred source on Google
More news: Shares in Super Retail Group dropped on the ASX after the retail company flagged that it expects two employees to jointly claim losses and damages of between $30 million and $50 million.
Shares were down 5.1% to $14.12 by 1:20pm AEST.
Super Retail Group flags impending court claim
The news: Super Retail Group has flagged that it expects to face a legal claim from two employees over the non-disclosure of a relationship between its chief executive Anthony Heraghty and the former head of human resources, and bullying allegations.
The numbers: The retail giant said it expects the two employees, who are represented by Harmers Workplace Lawyers, to jointly claim losses and damages of between $30 million and $50 million.
The context: The Supercheap Auto and Rebel owner said the allegations also include inappropriate company travel; bullying, victimisation and adverse treatment; particular employees in the corporate team having unreasonable workloads, insufficient resources and restricted access to information; and unsatisfactory company record management.
The company said it will defend any court proceedings in relation to the allegations from the employees.
What they said: “The board has conducted a review and investigations into these allegations. The board was supported by independent external advisers," Super Retail Group’s board said in an announcement to the ASX.
"The board’s review and investigations concluded that none of the allegations are substantiated."
The source: ASX announcement
