NEW ORLEANS, Jan. 31, 2020 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 30, 2020 to file lead plaintiff applications in a securities class action lawsuit against Westpac Banking Corporation (NYSE: WBK), if they purchased the Company's securities between November 11, 2015 and November 19, 2019, both dates inclusive (the "Class Period"). This action is pending in the United States District Court for the District of Oregon.
What You May Do
If you purchased securities of Westpac and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-wbk/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by March 30, 2020.
About the Lawsuit
Westpac and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 19, 2019, post- market, Australia's anti money- laundering and terrorism financing regulator, AUSTRAC, filed a civil action against the Company in Australian Court alleging over 23 million breaches of Australian anti-money laundering laws, including failing to report over 19.5 million international fund transfers, failing to perform enhanced due diligence on correspondent banks in high-risk jurisdictions, and potentially providing services used in the exploitation of children in South East Asia and the Philippines. Further, the regulator is pursuing fines of up to A$21 million ($14 million) for every transaction Westpac failed to monitor adequately or report on time in the country's biggest ever money laundering scandal.
On this news, the price of Westpac's shares plummeted.
The case is Byrne v. Westpac Banking Corporation, et al., 20-cv-00171.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC