CBA action bankrolled

LITIGATION funder IMF Bentham has confirmed it will back a shareholder class action against Commonwealth Bank related to alleged breaches of anti-money laundering and counter-terrorism funding laws.

IMF and law firm Maurice Blackburn said in August they were considering pursuing a case against CBA, which had the potential to be the largest ever launched in Australia.

IMF said yesterday it had formally decided to fund the case, and was taking registrations from interested CBA shareholders.

The potential class action would include shareholders of CBA who purchased shares between August 17, 2015, and August 3 this year.