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An update from Latitude Group Holdings Ltd. ( (AU:LFS) ) is now available.
Latitude Group Holdings has acknowledged that a class action has been filed in the Queensland Supreme Court against its subsidiary Latitude Finance Australia and retail partner Harvey Norman Holdings. The action concerns historical advertisements promoting Interest Free Plans on the Latitude GO Mastercard between 1 January 2020 and 11 August 2021.
The company said the proceeding remains at an early stage and has described the claims as fundamentally flawed. Latitude indicated it intends to vigorously defend the case, signalling a potentially protracted legal process that could test its marketing practices and its broader partnership-based credit model.
The most recent analyst rating on (AU:LFS) stock is a Hold with a A$1.20 price target. To see the full list of analyst forecasts on Latitude Group Holdings Ltd. stock, see the AU:LFS Stock Forecast page.
More about Latitude Group Holdings Ltd.
Latitude Group Holdings Ltd, trading as Latitude Financial, is a consumer finance provider listed on the ASX. The company offers credit cards, instalment and interest-free retail finance products, including the Latitude GO Mastercard, targeting customers through retail partners and direct channels across Australia.
Average Trading Volume: 26,855
Technical Sentiment Signal: Sell
Current Market Cap: A$922.8M
For a thorough assessment of LFS stock, go to TipRanks’ Stock Analysis page.