Macquarie Group Ltd shares are moving higher on Thursday.
According to The Australian, Gordon Legal has launched a class action in the Supreme Court of Victoria against Macquarie Investment Management.
Around $480 million was invested in the fund between 2022 and its closure in 2024, with about $321 million coming through Macquarie's platform.
Last year, ASIC took Macquarie Investment Management to court after the company said it failed to place Shield on a watch list for extra monitoring.
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Macquarie Group Ltd shares are moving higher on Thursday. According to The Australian, Gordon Legal has launched a class action in the Supreme Court of Victoria against Macquarie Investment Management.
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Macquarie Group Ltd shares are moving higher on Thursday.
The investment bank's stock is up 0.81% to $241.76.
According to The Australian, Gordon Legal has launched a class action in the Supreme Court of Victoria against Macquarie Investment Management.
The action involves Rachelle Dessent and around 2,800 account holders who invested in the Shield Master Fund through Macquarie's platform.
Macquarie agreed last September to compensate affected investors for the money they had put into Shield.
Around $480 million was invested in the fund between 2022 and its closure in 2024, with about $321 million coming through Macquarie's platform.
Shield was available through Macquarie's superannuation platform from early 2022 until investments were stopped in 2023.
Last year, ASIC took Macquarie Investment Management to court after the company said it failed to place Shield on a watch list for extra monitoring.
Macquarie later agreed to pay around $321 million to about 3,000 affected investors.
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