Victoria Registry, Federal Court of Australia (VID1373/2019).
Date of Filing
16 December 2019.
Edmund How Fen Yong v Westpac Banking Corporation.
Solicitors for Applicant
Phi Finney McDonald.
Solicitors for Respondent
Gilbert + Tobin.
Woodsford Litigation Funding.
Following the announcement on 20 November 2019 that the Australian Transaction Reports and Analysis Centre (AUSTRAC) had commenced civil proceedings against Westpac in relation to a substantial number of serious contraventions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), between close of trade on 19 November 2019 and close of trade on 22 November 2019, Westpac’s share price fell approximately 7%.
It is alleged that Westpac breached its continuous disclosure obligations and engaged in misleading and deceptive conduct and that Westpac’s share price was inflated because of this conduct.
Shareholders who acquired Westpac securities between 16 December 2013 and 19 November 2019 (inclusive).
Capacity to Join
First case management hearing was 31 January 2020.
Next case management hearing listed for 26 June 2020.