Settlement reached by Bank of Queensland

Company News

by Rachael Jones

The Bank of Queensland (ASX:BOQ) has reached a settlement subject to court approval in the Petersen class action.

The class action was initiated by Petersen Superannuation Fund on its own behalf and on behalf of customers who received advice from Sherwin Financial planners – who are now in liquidation.

Also those who deposited funds into the bank of Queensland money market accounts administered by DDH Graham as a result of this advice.

The settlement was approved by the Court on 30 May 2018.

The Bank says the settlement will not have a material impact on BOQ’s statutory profit for the 2018 financial year.
The terms of the settlement remain confidential.

Shares in The Bank of Queensland (ASX:BOQ) down -2.4% to $10.15
 

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.