Westpac in AUSTRAC class action

Westpac has confirmed it has been served with a class action by Johnson Winter and Slattery on behalf of certain shareholders related to market disclosure issues connected to Westpac’s monitoring of financial crime which would be the subject of the AUSTRAC proceedings.

This would apply to shareholders who acquired an interest in Westpac securities or equity swap confirmations between and including 16 December, 2013, and 19 November, 2019.

It also covered similar subject matter to the claim filed by Phi Finner McDonald which was announced in December, 2019.

The claim does not identify the amount of damages sought and Westpac had said they would defend the claim.

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