Maurice Blackburn claims 2.5 million AMP superannuation accounts have been charged too much in administration fees and has launched a class action against the wealth management firm, which follows a shareholder class action already underway , as well as legal action by ASIC. Lawyers believe the damages against AMP could be “very, very significant”. From The ABC:
Law firm Maurice Blackburn said the latest lawsuit would be based on revelations at the banking royal commission that AMP routinely charged more in administration fees than they should have.