Another lawsuit is filed against the bank.

Commonwealth Bank of Australia, which is battling against a run of compliance woes, has been served with a class action lawsuit from shareholders angry about a sharp drop in the lender’s value in recent months.

The suit was filed by Phi Finney McDonald on behalf of various shareholders who acquired an interest in CBA’s shares between 16 June 2014 and 3 August 2017.

According to a report by Reuters, CBA said the proceeding involved similar claims to the shareholder class action commenced by Maurice Blackburn against the bank in October 2017, and that it intended to “vigorously” defend the claim. Maurice Blackburn had filed a class action against CBA on behalf of shareholders, accusing the lender of failing to disclose widespread breaches of anti-money-laundering rules.

CBA has been punished by regulators for AML breaches, a saga that has seen a number of high-profile executives leave. Late last year, the Australian government set up a Royal Commission to probe into alleged failings and problems in the financial services industry, and a number of problems have come to light. (See here for an update on developments.)

Over the past five years, CBA’s share price peaked at A$95.80 ($70.32) per share on 20 March, 2015; it closed at A$72.70 yesterday.