Ardent Leisure facing shareholder lawsuit over deadly Dreamworld accident
Theme park operator Ardent Leisure Group is facing a shareholder class action lawsuit tied to the 2016 fatal accident at the Dreamworld theme park.
The suit was filed in the Federal Court of Australia alleging the company wilfully misled investors about its safety record, which led to an inflated share price.
It impacts investors who purchased shares from mid-2014 until October 25, 2016, the date of the accident.
Four guests died when two rafts collided and flipped over on the Thunder River Rapids Ride.
The coroner was heavily critical of the safety culture at the park and ‘failed to take any steps to rectify’ safety issues over past years.
"We believe Ardent’s failure caused harm not only to all those directly affected by the incident, but also to the group’s shareholders who were misled into thinking Dreamworld was a secure investment operating at the highest safety standards," said lawyer Greg Whyte.
Ardent Leisure said the lawsuit is ‘without merit’ and ‘strongly denies any contraventions as alleged.’
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
In Italy, the Meloni government congratulates itself for its tourism achievements
Singapore to forbid entry to undesirable travelers with new no-boarding directive