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AMP faces fourth class action over fee-for-no-service scandal

Wealth manager also being sued over allegedly misleading Asic after banking royal commission revelations

Wealth manager AMP will face a fourth class action over revelations it charged customers for advice they never received and then repeatedly misled the corporate regulator.

Law firm Slater and Gordon announced on Thursday it had filed proceedings against the financial giant on Thursday. The firm described the case as “likely to be one of Australia’s largest ever investor class actions”.

Related: AMP apologises to shareholders at AGM: ‘We let you down’

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Source: The Guardian