Westpac (ASX:WBC) face shareholder class action

Company News

by Rachael Jones

Westpac Banking Corporation (ASX:WBC) today confirmed that it has been served with a class action filed by Phi Finney McDonald on behalf of certain shareholders who acquired an interest in Westpac securities between 16 December 2013 and 19 November 2019.

The claim relates to market disclosure issues connected to Westpac’s monitoring of financial crime over the relevant period and matters which are the subject of the recent AUSTRAC proceeding.

The claim does not identify the amount of any damages sought.

Westpac will be defending the claims.

Shares in Westpac Banking Corporation (ASX:WBC) are trading 0.53 per cent lower at $24.51.