Litigation specialists to fund Opes actions
A legal firm specialising in class actions has announced that it will fund the claims of some clients caught out in the Opes Prime collapse.
IMF (Australia) Limited announced to the Australian Securities Exchange today that it proposed to fund claims that certain clients of Opes Prime Stockbroking Limited had against ANZ Banking Group Limited.
It said the claims related to the clients’ entitlement to shares provided to Opes pursuant to equity financing arrangements.
The announcement said the clients would seek either damages or the return of equivalent shares sold by ANZ.
“IMF will provide litigation funding to Opes clients, depending on IMF’s consideration of their individual circumstances,” IMF executive chairman Rob Ferguson said.
AUTHOR
Mike Taylor
Recommended for you
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
Amid the current financial adviser shortage, advice firm Link Wealth is looking to expand its financial literacy program for high school students across the country.
TAL Risk Academy has updated its range of ethics courses to help financial advisers meet their CPD requirements following adviser feedback, including interpreting FSCP determinations.
