Nov 7 (Reuters) – Australian on line casino operator Star Entertainment Group Ltd (SGR.AX) on Monday stated it faces a second class motion lawsuit over allegations of failure to adjust to disclosure necessities concerning anti-money laundering and counter-terrorism financing guidelines.

The class motion, filed by legislation agency Maurice Blackburn, alleges that between March 29, 2016 and March 16, 2022, Star made deceptive representations about its programs and processes for compliance with anti-money laundering and counter-terrorism financing obligations, Star stated in a statement.

The lawsuit additionally accuses Star of failing to reveal related info to the market and “conducted its affairs contrary to the interests of the members of The Star as a whole”, in response to the assertion.

Star stated it is going to defend itself towards the category motion, including that the declare was “substantially similar” to the category motion filed by one other legislation agency Slater & Gordon (SGH.AX) in March earlier this yr.

The Brisbane-based on line casino agency’s shares have dropped 19% in a yr marked with investigations and scrutiny of its operations over its alleged failure to forestall cash laundering and prison exercise.

Reporting by Sameer Manekar in Bengaluru; Editing by Daniel Wallis and Paul Simao

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