CompaniesFinancial ServicesClass actionPrint articleCBA’s former wealth arm settles class action for $100mHannah WoottonColumnistJul 14, 2023 – 3.19pmSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginColonial First State will pay $100 million into thousands of superannuation accounts to settle a class action alleging it illegally charged members high fees to help finance generous commissions for financial advisers.The settlement, which came with no admission of liability or wrongdoing by CFS, will be the highest payout received by plaintiff law firm Slater and Gordon in a class action, if is it approved by a court.Loading...Hannah Wootton is a Rear Window columnist, based in Melbourne. Connect with Hannah on Twitter. Email Hannah at hannah.wootton@afr.comSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleIntroducing your NewsfeedFollow the topics, people and companies that matter to you.Find out moreRead MoreClass actionCommonwealth BankSlater & GordonRegulationBanking royal commissionHayne falloutSuperannuationLatest In Financial servicesFetching latest articlesMost Viewed In CompaniesThe Australian Financial Review Magazine‘We don’t want to die wondering’: Jo Horgan on Mecca’s biggest bet yetLauren SamsThis Brisbane restaurant deserves a Michelin starHow Ozempic and other GLP-1s are transforming much more than just waistlinesBOSS Financial ReviewCan you take an extended career break and not hurt your career?Hannah TattersallGen Z doesn’t do water cooler chat. Here’s what bosses should doHow skateboarding helps this director switch offLife & LeisureInside the Big Bang watch party in GenevaLuke Benedictus and Matthew DrummondGo retro with a new Steve McQueen watch and Van Cleef’s rarest jewelsHow to lift your way to a longer lifeRich ListBillionaire furniture mogul’s $12m hinterland retreat smashes recordBonnie CampbellApartment prices in record jump to $19,000 per square metreCettire recruits Accent shoe chief Daniel Agostinelli to its board
