Coral and Ladbrokes owner Entain PLC (LSE:ENT) could see its investors seek more than £100 million in compensation due to the corruption and bribery issues surrounding its former Turkish business.
Fox Williams, the law firm, said it was readying to launch a large group litigation claim against the betting group for its "failure to report honestly" on the issues.
Last year, the FTSE 100 group was fined £565 million by HMRC for the Turkish bribery case, with an investigation having found that the former business failed to properly outline measures to prevent corruption.
A spokesperson for the company said: "Entain is not aware of any issued claim of this kind against the company. We would defend any such action robustly.”
Entain shares traded 0.7% today, but remain close to 30% down in the year-to-date.
In April, Entain PLC (LSE:ENT) reported a fall in UK and Irish revenues over the first quarter due to tougher gambling restrictions, with net gaming revenues slipping 9%.
“We continue to experience the effects of our regulatory implementation,” the firm said.