AMP Agrees in Principle to Settle Commissions Class Action for AU$29 Million
MT Newswires Live
Dec 11
AMP (ASX:AMP) agreed in principle to settle a commissions class action for AU$29 million, subject to the finalization and execution of a settlement deed and the approval by Australia's Federal Court, according to a Thursday Australian bourse filing.
The class action was brought against the company and its advice licensee units for historical activity, including the payment of commissions from July 2014 to February 2021, the filing said.
The company did not admit to any liability, per the filing.
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