STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation on behalf of purchasers, including Australian investors, of Australian financial services giant AMP Limited (Other OTC: AMLTF, AMLYY; ASX: AMP.AX) (“AMP” or the “Company”, including ) securities during the period between May 24, 2013 and April 16, 2018, inclusive.
AMP has reportedly admitted to lying to customers and regulators and has lost AUD $1 billion in shareholder value since early March. AMP’s shareholders have watched its stock fall sharply following reported revelations to the ongoing Royal Commission that the 169-year old financial services company charged customers fees for advisory services that were never delivered, and then lied repeatedly about its behavior to regulators at the Australian Securities and Investments Commission (“ASIC”). Reports indicate that AMP’s head of financial advice acknowledged that the company had lost count of the number of times it misled ASIC, and its CEO resigned on April 20. The conduct reportedly admitted to is contrary to AMP’s responsibilities to its shareholders.
If you acquired shares of AMP between May 24, 2013 and April 16, 2018 and would like to learn more about the potential consequences of AMP’s reported conduct, without cost or obligation to you, please contact Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.