in order to settle a landmark class action that was brought by Shareholders.

They argue that Aristocrat Leisure failed to keep the market informed six years ago. The payout that is still confidential at this point will be the largest by an Australian company to it's investors.

The exact payout amount will be known some time next month after it is made public by the Federal Court. Federal Court judge, Margaret Stone is nearing a decision in the long running and bitter fight and if it is approved by Justice Stone at the hearing that will take place in about six weeks it is believed that the payout will be largely funded by Aristocrat's insurers.

The company hasn't said whether they had enough insurance to cover the case but Aristocrat did say yesterday that it would cost the company a net of $40 million dollars after taxes and this doesn't include what is sure to be a very large legal bill.







- 2008-05-20