April 30 (Reuters) - Litigation financier IMF Bentham Ltd IMF.AX said on Monday that it plans to fund a class action against AMP Ltd AMP.AX , Australia's largest listed wealth manager.
IMF said the investment involves a proposed class action by certain current and former AMP shareholders regarding alleged misconduct as revealed by Australia's Financial Services Royal Commission.
AMP announced the resignations of its chairwoman and legal counsel earlier on Monday, and slashed its directors' fees by a quarter, as the firm tries to stem the fallout from damaging revelations.