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