Corporate Travel Management Faces Potential Class Action Over Financial Reporting; Shares Up 5%

MT Newswires Live

Sep 07

Corporate Travel Management (ASX:CTD) and its former auditor, PricewaterhouseCoopers Australia, face a potential class action alleging the company misled investors in annual financial reports from 2020 to 2024, law firm Phi Finney McDonald said Monday.

PricewaterhouseCoopers allegedly engaged in deceptive conduct and made false statements about auditing Corporate Travel Management's financial reports, which caused the company's shares to trade at an inflated price and resulted in losses for investors who purchased the stock during the claim period, the law firm said.

Corporate Travel Management shares were suspended from the ASX in August 2025 following revelations of accounting irregularities related to customer charge rates in the UK. The company resumed trading after the release of its fiscal 2026 results.

The company did not immediately respond to a request for comment from MT Newswires.

Its shares gained nearly 5% in recent Monday trade.

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