AMP to defend shareholder class actions

Company News

by Rachael Jones

AMP (ASX:AMP) has been hit with two class actions alleging the wealth management giant breached continuous disclosure obligations and made misleading statements.

The company intends to vigorously defend the proceedings.

They both relate to matters referred to during the hearings of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry in April 2018.

Law firm Quinn Emanuel Urquhart & Sullivan today filed the class action on behalf of affected shareholders.

Shares in AMP (ASX:AMP) are down 0.73% to $4.08

 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.