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Oz legal action deadline looms

NEWS

MULTIPLEX is expected to find out next week whether it will face legal action from shareholders who claim the firm misled them over its losses at Wembley stadium.

Two Australian law firms have been investigating the claims since last autumn on behalf of current and former shareholders.

Last February the firm said it would break even, only for it to announce in May that losses had hit £45 million. It has since admitted more cost blowouts, with the official loss on Wembley now standing at around £75 million.

But this is expected to double when it announces its latest interim results to the Sydney Stock Exchange next Thursday.

Multiplex this week appointed Englishman James Tuckey to the role of executive chairman of its UK operation.

Mr Tuckey is already a non-executive director of the firm and will report to group chief executive Andrew Roberts.