ANZ says RAM investor claim lacks specifics

Mon, 02 Mar 2020

A lawyer for the ANZ Bank has criticised a lack of detail in a Ross Asset Management investor class action in a bid to get it thrown out of court. The former bankers for David Ross are trying to get an $80 million investor class action, representing more than 550 investors, kicked out of court at a preliminary stage. Ross Asset Management was the country's largest Ponzi scheme when it collapsed in late 2012. More than 800 investors believed more than $450 million was being managed on their behalf, but actual losses were closer to $100...

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