Iress (ASX:IRE) confirmed that the Emergency Services Superannuation Board (ESSSuper) has commenced civil proceedings against the company and its subsidiary, Financial Synergy Holdings Pty Ltd. The legal action, filed in the Federal Court, centers on an existing dispute relating to a platform services contract between the two parties.
Specific details of the claims have not been made public.
Melbourne-based Iress offers a full suite of software services spanning trading and market data, financial advice, investment management, superannuation, life and pensions and data intelligence. Its presence extends across Asia-Pacific, North America, Africa, Europe and the United Kingdom.
ESSSuper is one of Australia’s largest superannuation funds, managing the superannuation savings of Victorian emergency services and state employees. It provides a range of pension products and services tailored to the needs of its members, ensuring financial security for those working in critical public service roles.
Iress shares are trading up 0.5% at $10.01.