Westpac to defend class action by Slater & Gordon

Company News

by Rachael Jones

Westpac (ASX:WBC) today confirmed that it has received a class action filed against its subsidiary companies, BT Funds Management (BTFM) and Westpac Life Insurance Services (WLIS) filed by law firm Slater and Gordon.

The class action is in relation to aspects of BTFM's BT Super for Life cash investment option.

Damages sought by the claim are unspecified.

BT Funds Management and Westpac Life Insurance will be defending the claims.

Shares in Westpac (ASX:WBC) are trading 0.46 per cent higher at $28.62.
 

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.