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Investigation announced for Investors of NYSE: WBK shares over possible Wrongdoing at Westpac Banking Corporation

04-09-2020 09:44 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in Westpac Banking Corporation (NYSE: WBK) shares.

An investigation on behalf of current long term investors in Westpac Banking Corporation (NYSE: WBK) shares.

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Westpac Banking Corporation.

Investors who are current long term investors in Westpac Banking Corporation (NYSE: WBK) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: WBK stocks follows a lawsuit filed against Westpac Banking over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: WBK stocks, concerns whether certain Westpac Banking Corporation directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that 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, that 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, that the Company did not pass on requisite information about the source of funds to other banks in the transfer chain, that 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, that the Company's AML/CTF Program was inadequate to identify, mitigate and manage money laundering and terrorism financing risks, and that 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.

Those who purchased shares of Westpac Banking Corporation (NYSE: WBK) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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