I am a former WBC holder. I made a marginal gain on buy and sell and therefore havent suffered financial loss. So not sure how I would be entitled to any form off compensation for risk info non disclosure negligence by WBC.
The cases merit is not in regards to investor loss but rather non-disclosure of risks through WBC policy/investor information. When you dont have the correct financial information available to you, its hard to make an informative investment decision. This is a very hard battle to win. If you could sue for poorly managed investment information every time you would be loaded IMO. Many of my investments have had non-material issues become material issues. The bank can argue on the grounds of timing and invest at your own risk disclosures.
If your a current holder the class action is like kicking yourself in your a$$. If successful as a class action participant (you) get some compo less legal fees. at the detriment to your current shareholding in WBC assets - via a legal payout liability hit.
If your a former holder and made loss over the period this is the only reason it may interest you to be a part of the class action.
WBC Price at posting:
$25.01 Sentiment: None Disclosure: Not Held
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