Maurice Blackburn plans class action against IOOF
Law firm Maurice Blackburn is preparing to launch a class action law suit against ASX-listed financial services firm IOOF.
Reaching a "critical point" in its investigation into a class action against the firm, Maurice Blackburn said all institutional and retail investors that purchased IOOF shares between 1 December 2013 and 19 June 2015 are invited to register their interest in a claim against the firm.
Maurice Blackburn class action principal Brooke Dellavedova is scheduled to announce the details of the potential class action against IOOF in Melbourne today.
The announcement follows allegations that front-running and insider trading had occurred within the firm.
Since these allegations were brought to light, IOOF has been interrogated by the Senate Economics Committee regarding the possible misconduct.
These allegations against IOOF have also prompted calls by Nationals Senator John Williams for a Royal Commission into the financial services sector.
IOOF was contacted for comment but was unable to respond by deadline.
Advice firms on notice with new complaints handling standards
The corporate regulator will be focusing heavily on the internal dispute resolut...
Advisers still the ‘ultimate advice solution’: CFS
Despite the spread of managed accounts for firms looking to build transparent an...
Finance sector at most risk of data breaches
The Notifiable Data Breaches scheme review has found that the finance sector is ...