AMP could be on the hook for north of $100 million in damages after it lost a class action over its controversial financial adviser payout proposal, with the market expecting the issue could lower capital returns for years.
Shares in the financial services outfit closed down 4.7 per cent at $1.02 on Thursday, after a drop of more than 6 per cent on Wednesday. That brings the total fall in the company’s market capitalisation since the Federal Court decision to about $338 million.
![“We’re having a birthday party for [daughter] Rada in a few weeks and we’re going to get the truck to come, which is a real flex,” O’Neill says.](https://static.ffx.io/images/$zoom_0.7012%2C$multiply_2%2C$ratio_1.777778%2C$width_1059%2C$x_732%2C$y_641/t_crop_custom/c_scale%2Cw_600%2Cq_52%2Cf_auto/b5e4395344f07ccd1e3a348af02af77c8eeb8d1b)
