Iress (ASX:IRE) has confirmed that the Emergency Services Superannuation Board (ESSSuper) has initiated civil proceedings against the company and its subsidiary, Financial Synergy Holdings Pty Ltd. The legal action, filed in the Federal Court, centres on an existing dispute related to a Platform Services Agreement between the two parties.
Specific details of the claims have not been publicly disclosed.
Iress, headquartered in Melbourne, offers a comprehensive 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 UK.
ESSSuper is one of Australia’s largest superannuation funds, managing the retirement savings of Victorian emergency services and state employees. It provides a range of superannuation products and services tailored to the needs of its members, ensuring financial security for those working in critical public service roles.
Shares in Iress are trading 0.5% higher at $10.01.