Lovisa Holdings (ASX:LOV) said it will defend against a class-action lawsuit filed against the firm in an Australian court, according to a Thursday Australian bourse filing.
The company was served with a representative class action proceeding, filed in the Federal Court of Australia by Adero Law in relation to allegations of underpayment of staff against Lovisa during the period from Jan. 23, 2019, to Jan. 23 and related claims.
The firm said it takes its obligations seriously, including the one to pay overtime, adding that it has processes in place to monitor compliance with employment laws.
The company's shares fell nearly 2% in recent trading on Thursday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.