ASX Shareholder Claims

Registry

Victoria Registry, Federal Court of Australia (VID1373/2019).

Date of Filing

16 December 2019.

File Title

Edmund How Fen Yong v Westpac Banking Corporation.

Presiding Judge

Justice Middleton.

Solicitors for Applicant

Phi Finney McDonald.

Solicitors for Respondent

Gilbert + Tobin.

Funder

Woodsford Litigation Funding.

Claim Overview

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.

Class Members

Shareholders who acquired Westpac securities between 16 December 2013 and 19 November 2019 (inclusive).

Capacity to Join

Open.

Current Status

First case management hearing was 31 January 2020.

Next case management hearing listed for 26 June 2020.