Myer shareholders are taking the department store to court.
Myer has confirmed legal proceedings were served against the company on Wednesday, March 25.
The proceedings were brought by a shareholder seeking to bring a group action for itself and on behalf of a defined, but unnamed, group of shareholders.
The Writ was filed by Portfolio Law Pty Ltd on behalf of Melbourne City Investments Pty Ltd (MCI).
MCI alleges loss and damage said to have resulted from a statement made in the context of the company’s full year FY2014 results.
Myer noted that Melbourne lawyer, Mr Mark Elliott, is the sole director of MCI.
Myer denied the claim and said it will defend the litigation vigorously.
