Rich-lister Andrew Budzinski faces class action over allegations IC Markets misled investors

News Snapshot:

One of Australia's richest men, Andrew Budzinski, faces a class action over allegations that he and his company, IC Markets, misled thousands of everyday investors who may have collectively lost hundreds of millions of dollars trading in risky financial products. Echo Law filed a class action against Mr Budzinski and IC Markets in December, expecting that thousands of investors who lost money trading the products – known as contracts for difference (CFDs) — could come forward. CFDs are financial products that allow people to trade on how much assets – such as cryptocurrencies, shares and commodities – will increase or...