[ PODCAST ] FRT Insights, Episode 2 ― Passive Group Litigation Case Spotlight: AMP Limited
Host: Sean Cookson, Vice President and Managing Director – APAC, Financial Recovery Technologies
Guest: Emily Fortin, Associate Counsel, Financial Recovery Technologies
The case against AMP was one of the first to come out of the Royal Commission Investigation into Misconduct in the Banking, Superannuation and Financial Services industry. This was a very popular action as five separate, competing shareholder class actions were commenced against AMP Limited in 2018 – one in the Supreme Court of New South Wales and four in the Federal Court. The unprecedented battle that followed to book-build resulted in possibly the lowest fees for participating shareholders in AU history with fees getting as low as 10% of shareholder recoveries.
Important dates and deadlines
- Settlement Class Period: May 10, 2012 – April 24, 2018
- November 23, 2020: Participation and Opt-Out Deadline
- April 23, 2021: Court Mediation
- [Blog] Case Spotlight: AMP Limited
- [Blog] FRT FAQs: Passive Group Litigation
- [Report] A Primer on Global Group Litigation
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This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.