The lead plaintiff was awarded over $800k (there are more than 500 practices all up)
AMP was also found to have acted unconscionably
The exit deeds that some planners were forced to sign was found to be un-enforceable.
The judge also found that AMP had breached the corps act
Once we get the judgement we will be able to see how damages were calculated. No doubt the litigation funder will be working on this now!
I expect this to be a seminal moment in the annihilation of AMP's advisory business and a nail in the coffin of the wealth business generally. What adviser in their right mind would ever deal with a company with such a record?
The lead plaintiff was awarded over $800k (there are more than...
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Last
$1.07 |
Change
-0.010(0.93%) |
Mkt cap ! $2.867B | |||
| Open | High | Low | Value | Volume |
| $1.08 | $1.09 | $1.06 | $11.65M | 10.92M |
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| 7 | 57831 | $1.07 |
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| Price($) | Vol. | No. |
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| $1.07 | 9368 | 1 |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.07 |
Change
-0.010 ( 0.70 %) |
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| Open | High | Low | Volume | ||
| $1.08 | $1.08 | $1.06 | 1926509 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
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