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.

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.