Westpac Banking Corporation
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Zhang Investor Law announces ta class action lawsuit on behalf of shareholders who bought shares of Westpac Banking Corporation (NYSE: WBK) from November 11, 2015 through November 19, 2019 (the “Class Period”). The lawsuit seeks to recover damages for Westpac Banking Corporation investors under the federal securities laws.
If you bought Westpac Banking Corporation securities between November 11, 2015 through November 19, 2019, and would like to join the action, please click “Join This Class Action,” above.
SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against Westpac Banking Corporation – WBK
New York, N.Y., February 4, 2020. Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Westpac Banking Corporation (NYSE: WBK) between November 11, 2015 and November 19, 2019, inclusive (the “Class Period”).
To join the WBK class action, go to http://zhanginvestorlaw.com/cases/westpac-banking-corporation/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU NEED NOT BE A LEAD PLAINTIFF TO OBTAIN RECOVERY.
According to the lawsuit, throughout the Class Period (1) contrary to Australian law, the Company failed to report over 19.5 million international funds transfer instructions to AUSTRAC, Australia’s anti money-laundering and terrorism financing regulator; (2) the Company did not appropriately monitor and assess the ongoing money laundering and terrorism financing risks associated with movement of money into and out of Australia; (3) the Company did not pass on requisite information about the source of funds to other banks in the transfer chain; (4) despite being aware of the heightened risks, the Company did not carry out appropriate due diligence on transactions in South East Asia and the Philippines that had known financial indicators relating to child exploitation risks; (5) the Company’s AML/CTF Program was inadequate to identify, mitigate and manage money laundering and terrorism financing risks; and (6) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 30, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/westpac-banking-corporation/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at firstname.lastname@example.org.
Zhang Investor Law represents investors worldwide.