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Freedom Foods slapped with second class action – The Australian Financial Review

The class action alleges the company capitalised some day-to-day expenses that should have been immediately expensed, and that its financial position was overstated…

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The new class action alleges that, over the past six years, management of Freedom capitalised certain day-to-day and other expenses that ought to have been immediately expensed, and failed to write off quantities of expired or obsolete inventory. These accounting errors had the effect of significantly overstating Freedoms financial position and performance in its annual and half-yearly reports.
The case also alleges that Deloitte, Freedoms longstanding auditor, failed to correct the accounting errors…

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