Omni Bridgeway Faces Court Judgment, Eyes Appeal

Omni Bridgeway Ltd (AU:OBL) has released an update.

Omni Bridgeway Limited has announced a Federal Court judgment in a class action against Commonwealth Bank of Australia, which ruled in favor of the bank. The company is considering an appeal and will manage any adverse financial impacts with portfolio insurance, having already experienced a net cash loss of A$2.1 million on the investment. Despite the judgment impacting the investment’s carrying value, Omni Bridgeway remains committed to its strategic projects and portfolio value maximization.

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