In an attempt to differentiate itself among the five class actions against AMP on behalf of shareholders announced to date, Slater and Gordon has announced that it offers the best value to claimants.
The claimant firm said it would undertake the work on any action on a no-win no-fee bass, meaning that litigation funder Therium could cut its funding commission to just 10 per cent.
It also said that unlike other funders, Therium calculated its commission on net settlement after legal costs rather than on gross settlement amount.
“The choice is clear-cut. Slater and Gordon’s size and scale means we can offer group members the best package of funding terms and credentials in this important class action,” Slater and Gordon head of class actions, Ben Hardwick said.
“This move will radically reduce the costs Therium will need to fund during the litigation, limiting its outlay on out-of-pocket disbursements like barrister fees and experts, allowing the funder to offer the extremely low commission rates for this action.
Hardwick also pushed the firm’s expertise in the area.
“Given the magnitude of these losses, shareholders will want to ensure they will be well positioned to recover as much as possible from any resulting action.
“Slater and Gordon’s knowledge of this area of law and how these proceedings are best run along with market leading funding terms mean that this offer will be hard to beat.”
Slater and Gordon was coming off the back of some tough years that saw its own shareholders launch a class action against it.