Claims

The Supreme Court has made orders consolidating and allowing to continue two of five competing open class representative proceedings commenced against AMP Limited and permanently staying the remaining three. The commencement of the proceedings followed disclosures made during evidence given by AMP executives at the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry on 16 and 17 April 2018, after which AMP’s share price fell sharply.

The Court held that it was appropriate to order consolidation of the Komlotex and Fernbrook proceedings.

Registry

Supreme Court of New South Wales (2018/310118).

File Title

Pursuant to r 28.5 of the Uniform Civil Procedure Rules 2005 (NSW), order that proceeding 2018/310118 (the Komlotex proceeding) be consolidated with proceeding 2018/309329 (the Fernbrook proceeding) and that the consolidated proceeding be known as Komlotex Pty Ltd v AMP Limited (Consolidated proceeding).

Presiding Judge

Chief Justice Ward.

Solicitors for Applicant

Maurice Blackburn.

Slater and Gordon.

Solicitors for Respondent

Herbert Smith Freehills.

Funder

Self funded by Maurice Blackburn.

Class Members

Shareholders who acquired shares in AMP between 27 May 2015 to 13 April 2018.

Capacity to Join

Open.

Current Status

Directions hearing was on 28 June 2019.

 

Competing Class Actions
Phi Finney McDonald
Registry

Federal Court of Australia, Victoria Registry (VID535/2018).

Date of Filing

9 May 2018.

File Title

WILEYPARK PTY LTD v AMP LIMITED.

Presiding Judge

Chief Justice Ward.

Solicitors for Applicant

Phi Finney McDonald.

Solicitors for Respondent

Herbert Smith Freehills.

Funder

IMF Bentham Ltd.

Potential Class Members

Shareholders who acquired shares in AMP between 6 May 2013 to 13 April 2018 (inclusive).

Capacity to Join

Closed.

Current Status

Permanently stayed.

 

Quinn Emanuel
Registry

Supreme Court of NSW (SC 2018/145792).

Date of Filing

9 May 2018.

File Title

Wigmans v AMP Ltd.

Presiding Judge

Chief Justice Ward.

Solicitors for Applicant

Quinn Emanuel Urquhart & Sullivan.

Solicitors for Respondent

Herbert Smith Freehills.

Funder

Burford Capital.

Potential Class Members

Shareholders who acquired shares in AMP between 10 May 2012 to 15 April 2018 inclusive.

Capacity to Join

Closed.

Current Status

Permanently stayed.

 

Shine Lawyers
Registry

Federal Court of Australia, New South Wales Registry (NSD878/2018).

Date of Filing

25 May 2018.

File Title

ANDREW GEORGIOU v AMP LIMITED.

Presiding Judge

Chief Justice Ward.

Solicitors for Applicant

Shine Lawyers.

Solicitors for Respondent

Herbert Smith Freehills.

Funder

Augusta Ventures.

Potential Class Members

Shareholders who acquired shares in AMP between 6 May 2013 to 13 April 2018.