New Aristocrat CEO: No Grounds for Class Action

AUSTRALIA – As reported by the Australian Broadcasting Corporation: "Aristocrat's new chief executive Paul Oneile says he sees no grounds for legal action by a group of shareholders against the company.

"The gaming machine company announced the appointment of the former international movie executive on the same day the shareholders launched their class action over the company's two profit warnings this year.

"Mr Oneile has told Channel Seven he undertook his own investigation of the company before accepting the appointment.

"…`I spoke to a number of analysts, a number of stockbrokers, a number of accountants, just to ensure that I understood what I was getting myself into and certainly in that process, no, I didn't come across anything that rang any alarm bells for me.'…"