Law firm hits CBA with class action suit

Original article by Cliona O’Dowd
The Australian – Page: 20 : 3-Jul-18

The Commonwealth Bank of Australia faces another class action over its money-laundering scandal. Law firm Phi Finney McDonald has filed a lawsuit on behalf of investors who bought CBA shares between 16 June 2014 and 3August 2017. The firm alleges that CBA’s failure to inform the market about the scandal constituted a breach of its disclosure requirements. The class action will allege that investors incurred loss and damage due to the bank’s inaction.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, PHI FINNEY McDONALD PTY LTD, THERIUM PTY LTD, CALIFORNIA STATE TEACHERS’ RETIREMENT SYSTEM, TEACHERS’ RETIREMENT SYSTEM OF TEXAS, MASSACHUSETTS PENSION RESERVES INVESTMENT MANAGEMENT BOARD, COLORADO PUBLIC EMPLOYEES’ RETIREMENT ASSOCIATION, MAURICE BLACKBURN PTY LTD, IMF BENTHAM LIMITED – ASX IMF

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