Navigating the Westpac Litigation in Australia


Navigating the Westpac Litigation in Australia
Navigating the Westpac Litigation in Australia

Please join ISS Securities Class Action Services and Phi Finney McDonald, a leading Australia-based plaintiff class action firm, for a discussion on the recently announced case against Australian’s first bank, and oldest company, Westpac (ASX: WBC).

This action follows the AUSTRAC proceeding commenced against Westpac on 20 November 2019, alleging 23 million breaches of the Anti-money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (AML/TF Act).

Phi Finney McDonald is preparing a class action against Westpac arising from failures to advise the market of material information as well as misleading and deceptive conduct in relation to breaches of the AML/TF Act. The market has responded to this information, and by the close of trade on 22 November 2019, Westpac’s share price had fallen approximately 7%.

Westpac is a major Australian financial institution carrying on banking business in Australia. It is an authorized deposit-taking institution, with the capacity to transfer funds in and out of Australia.

ISS Securities Class Action Services recently reported that “event-driven” litigation is a direct correlation to the significant amount of growth related to newly filed cases around the globe. This includes activities such as… Sexual Harassment, Data Privacy, Money Laundering, Environment, Product Safety, and Rx Drug Pricing to name a few types of actions.

The event will be led by both Jeff Lubitz, ISS Executive Director & Head of Securities Class Action Services, and Ben Phi, Managing Director, and Tim Finney, Director, Phi Finney McDonald.

For those who may not have the opportunity to join the webinar live, please register and a link to the recorded event will be provided.


Monday, December 16th
7:00pm EST
4:00pm PST

Tuesday, December 17th
11:00am AEDT
1:00pm NZDT

This event is intended for institutional investors and pension funds.

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