Commonwealth Financial Planning, the investment adviser owned by Commonwealth Bank of Australia, gave bad advice that cost its clients millions of dollars, Maurice Blackburn Lawyers claimed in a lawsuit.
Maurice Blackburn, which sued Financial Planning in March on behalf of seven people who lost a combined A$4.3 million ($4.4 million), filed another lawsuit today on behalf of several more investors. The law firm secured compensation for some of the investors in the previous suit, it said in a statement today.
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