Australian class actions set to rise

General news0

Professional services organization the Goal Group has predicted that the number of securities class actions in Australia was about to rise significantly, after they opened their first Australian office in Melbourne.

This comes after Maurice Blackburn announced their class action against each of the big banks over credit card charges.

Andreas Costi predicted last week that securities class actions, which had been averaging 11 a year, would rise to approximately 20 following the entrant of a new and aggressive specialist law firm ACA.

Goal has estimated that more than $31.5 billion of withholding tax is deducted globally each year and that its products and services facilitate the recovery of about $11.5 billion of that. However, there is still about $10.6 billion left unclaimed by its rightful owners.

The Goal global class action service supports corporates and institutions such as superannuation funds, fund managers and custodians that have suffered financial loss from owning shares in a company where there has been mismanagement or unlawful behaviour.

Goal, which started life in 1989 in the UK as an investment technology company, is now one of the world’s major providers of securities class action outsourcing services and global withholding tax reclamation services.

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