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AMP faces 4th class-action suit

AMP Ltd. is facing its fourth class-action lawsuit over alleged incidents of misconduct as law firm Slater and Gordon filed proceedings against the company, The Sydney Morning Herald reported.

The class action revolves around the revelations heard at the royal commission into financial misconduct. AMP had admitted to charging customers for financial advice they did not receive and lying to the corporate regulator about its behavior.

AMP is also facing class actions from law firms Quinn Emanuel Urquhart & Sullivan, Phi Finney McDonald and Shine Lawyers, as well as a potential legal proceeding from Maurice Blackburn Lawyers.