| Cause of Action: | About 900 investors are represented in a class action against companies and individuals previously involved in the management of the LifeTrack Superannuation Fund, run within the AM Group of Companies. The claimants allege they suffered losses as a result of the defendants’ mismanagement of their investments in the traded policies sub-funds component of the LifeTrack Fund. The defendants marketed the traded policies sub-funds as low risk investments. The claimants say that as a result of numerous breaches of duty, misrepresentation and misleading conduct, negligence, breach of trust and other defaults on the part of the defendants, the claimants suffered serious losses on their traded policies investments. |
