SLATER & Gordon will reopen the Opes Prime class action after attempts at mediation failed last week.
Earlier in the year Slater & Gordon was successful in gaining injunctions against ANZ for some affected Opes Prime investors, but according to the firm, other investors resisted joining the class action in order to attempt mediation.
However following the failure of mediation, Slaters will be reopening the class action — which it has confirmed will be funded by Comprehensive Legal Funding — to include new Opes Prime investors.
The actions, which are being taken against both ANZ and Merrill Lynch, are the only actions pursuing both banks. The firm is currently awaiting the outcome of a strike-out application which has been taken out by the defendants.