Gambling machine maker Aristocrat Leisure (ASX:ALL) said a US court had ruled against the company in its legal battle with bondholders, and will be forced to pay damages.
A United States District Court jury rejected the company’s allegation that the claimants failed to take reasonable steps to mitigate consequential damages.
As a result, Aristocrat will have to re-compensate the bondholders, the company said, although the precise amount will be determined by the court at a later date.
Aristocrat shares fell 2.5% to $5.06 following the announcement.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.