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.