Commonwealth Bank of Australia Has Not Been Served Any Legal Proceedings
Commonwealth Bank (CBA) are aware that Maurice Blackburn and IMF Bentham are investigating a potential shareholder class action, but has not been served any legal proceedings.
” CBA awaits potential class action by Australia’s leading law firm and funder “
Australia’s leading class action law firm Maurice Blackburn Lawyers has united with Australia’s largest litigation funder IMF Bentham to pursue the largest Australian Securities Exchange (ASX) listed company, Commonwealth Bank of Australia (CBA)
CBA’s 800,000-odd registered shareholders suffered a significant share price drop on the back of news that Australia’s financial intelligence and regulatory agency, AUSTRAC, had initiated legal proceedings against the CBA alleging serious and systemic non-compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
Source: Official Press Release
About Commonwealth Bank
The Commonwealth Bank is Australia’s leading provider of integrated financial services including retail banking, premium banking, business banking, institutional banking, funds management, superannuation, insurance, investment and sharebroking products and services. The Group is one of the largest listed companies on the Australian Securities Exchange and is included in the Morgan Stanley Capital Global Index. It was was founded under the Commonwealth Bank Act in 1911 and commenced operations in 1912, empowered to conduct both savings and general banking business. Today, the bank has grown to a business with more than 800,000 shareholders and 1,100 branches nationally.
- Origin : Sydney, Australia
- Assets : $933.1 billion
- Revenue : $24.6 billion
- Employees : 52,000
Official Website: www.commbank.com.au
News & Media: Press Release
Updated on 8th August 2016