Landmark class-action judgment finds Myer misled over profit forecast

Judge finds retailer misled and deceived but no resultant shareholder loss as market factored in lower profitShareholders have won the first class action lawsuit to go all the way to judgment in Australia – but are unlikely to see a cent from defendant Myer because the stock market didn’t believe inflated profit forecasts made by the retailer’s chief executive, a judge has found.The landmark judgment, handed down on Thursday by the federal court, is likely to be of more help to