ANZ moves to defeat Ross Asset class action early

Tue, 29 Oct 2019

A date has been set for the first legal hurdle for Ross Asset Management investors in their class action against the ANZ Bank. Five hundred investors have now signed up to the class action against ANZ, which alleges the bank breached its duties. The claim has been estimated at upwards of $70 million and is being defended by ANZ. RAM, the country's largest Ponzi scheme, 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 million. About...

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