Shareholders Filed a Lawsuit Against Downer EDI for Misrepresenting Financial Performance

Case: S ECI 2023 01835

On April 1, 2025, DOW shareholders have filed a class action against Downer EDI Limited and its auditor KPMG, accusing them of misrepresenting contract profitability, inflating financial performance since FY20, and issuing false FY23 earnings guidance.

What is this lawsuit about?

On December 8, 2022, and again on February 27, 2023, Downer disclosed that certain utilities contracts were loss-making, revenue had been misstated, and FY23 earnings guidance could not be met. Following these revelations, DOW shares dropped more than 20% on both dates.

What can you do to recover your losses now?

We’re keeping track of all updates and will notify DOW investors about potential recovery.

More than 600 companies are currently facing securities class action lawsuits, and over 100 are already paying settlements. Connect your brokerage account to automatically check which ones you may have missed.