Elkins named in CFS class action filing
Linda Elkins may have left Colonial First State and become at partner at KPMG but that has not stopped her being drawn into a class action mounted by plaintiff law firm, Maurice Blackburn.
The Commonwealth Bank late yesterday acknowledged to the Australian Securities Exchange that the class action proceedings had been filed by Maurice Blackburn in the Federal Court against Colonial First State Investments Limited (CFSIL) and a former executive director of CFSIL.
It said the class action related to the transfer of certain default balances held by members of FirstChoice Employer Super to a MySuper product.
The bank said that both it and CFSIL were reviewing the claim and would provide any update as required.
Elkins was the executive director of CFSIL until earlier this year when she announced her move to KPMG.
Maurice Blackburn flagged the filing of the class action earlier this week and is alleging breaches of super trustee duties leading substantial losses by members of the fund.
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