First Myer. Now Billabong is being taken to court by shareholders.
Billabong has received a statement of claimed filed in the Federal Court of Australia.
The claim is in relation to a shareholder class action against the company, this time over the timing of an earnings downgrade which saw share prices plummet.
Billabong said it would vigorously defend the claim, which focuses on market disclosures that occured in 2011.
It is claimed Billabong misrepresented its earnings forecasts and failed to disclose critical information in 2011.
It is claimed Billabong had inadequate systems to assess the financial and operating performance of all parts of its global business.
This meant it could not estimate earnings for the 2012 fiscal year.
Myer is also dealing with shareholder litigation regarding the timing of its latest earnings announcement.