Login
Shine goes ahead with AMP class action
Shine Lawyers has officially filed a class action against the embattled financial giant, after securing funding from UK litigation funder Augusta Ventures Limited.
Emma Musgrave
Shine has confirmed that its class action against AMP will proceed, after various instances of misconduct were uncovered by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry last month.
The firm also noted that the exposure of this by the commission “cause[d] the share price [of AMP] to drop by 10.2 per cent”.
“Shareholders feel rightly aggrieved by the revelations of AMP at the royal commission," said Shine class actions expert Jan Saddler.
"Shine is looking forward to assisting shareholders to recover some of the losses they have suffered as a result of the scandalous decision making that has occurred at AMP over a number of years.
“We are confident that the funding package proposed by Augusta Ventures and Shine will maximise net returns for investors seeking redress against AMP, and we look forward to helping those investors obtain the compensation they are due.”
Shine’s official filing of the class action against AMP comes after Maurice Blackburn announced that it, too, has filed this week.
Last week, AMP confirmed that global litigation firm Quinn Emanuel and Phi Finney McDonald — with funding from litigation funder IMF Bentham — had also filed two separate class actions against it.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
Email Emma on:
