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A banned financial planner suing AMP Financial Planning for alleged unconscionable conduct has failed in his bid to add a fraud claim against AMP Bank to his case.
A banned financial advisor who is suing former employer AMP Financial Planning for alleged unconscionable conduct is seeking to join AMP Bank to the case, claiming it made fraudulent misrepresentations.
A judge has approved a $120 million settlement in a class action against AMP that followed the banking royal commission, saying while it was a “very disappointing outcome” for group members it was still fair and reasonable.
A former financial advisor and his company have won court approval to run a claim challenging AMP's buyer of last resort policy, despite the company being a group member in a related class action that settled for $100 million in 2023.
AMP has agreed to pay $120 million to settle a class action stemming from the banking royal commission which accused it of overcharging millions of superannuation members over a 12-year period.
Construction PRO
Real estate fund manager Dexus has sued wealth management firm AMP following a decision forcing it to sell its half of the $1.7 billion Macquarie Shopping Centre.
On the first day of a seven-week class action trial, a judge has heard that AMP Superannuation failed to renegotiate interest rates with AMP Bank for up to 12 years, despite investing as much as $2 billion in customers' superannuation with the bank.
Munich Reinsurance has been given the OK to bring additional claims in its $696 million lawsuit, which accuses AMP of misleading or deceptive conduct over a quota share agreement.
AMP has won its bid for more information on a class action’s allegations that it charged excessive insurance premiums, saying the applicant appeared to be “in search of a case”.
A contradictor appointed to represent group members' interests in relation to a $100 million settlement in a class action against AMP wants to shave $2.6 million off the funder’s cut, telling the court that deductions for ATE insurance and administrative fees should not be approved.