Murray Goulburn has agreed to pay $37.5 million to resolve the second of two shareholder class actions over its 2016 profit forecasts, as the $42 million settlement of the first class action is held up over questions about the litigation funder’s commission.
Unique International College has been slapped with a $4.165 million penalty after a court found the defunct vocational trainer engaged in unconscionable conduct in enrolling students in courses costing up to $22,000.
The cosmetics company behind the beauty range FreezeFrame has filed proceedings against a group of companies allegedly selling counterfeit versions of its popular products, which include the top-selling RevitalEyes.
The Northern Territory government has been hit with a class action alleging the Indigenous population of the remote NT community of Wadeye is subject to “institutional racism” by government authorities.
A class action accusing Westpac of issuing unsuitable home loans is pushing forward with overhauled pleadings after the corporate watchdog lost a related regulatory action, and the class now says it was enough that the bank failed to account for borrowers’ so-called essential expenses.
The Fair Work Ombudsmand has vowed to hold Woolworths to account after the supermarket giant disclosed Wednesday it had underpaid thousands of employees up to $300 million and was “deeply sorry”.
The former AMP general counsel who alleges she was bullied and sacked for complaining about the wealth manager’s fees for no service was not a whistleblower, but just one of many employees who raised concerns about the practice, the firm has said in a defence to the fired lawyer’s $2.7 million lawsuit.
UGL shareholders that signed up to a class action against the engineering company over disclosures related to its Ichthys power plant contract will get less than half of an $18 million settlement, even after the litigation funder takes a steep cut to its 30 per cent commission and the plaintiff’s firm caps its fees.
The funder backing a shareholder class action against Woolworths wants a 35 percent slice of any settlement or judgment in the $100 million case, according to its agreement with the applicants.
A groundbreaking class action ruling by the Federal Court on Thursday that found Myer misled shareholders and accepted the applicant’s market-based causation theory is the only judgment in an Australian securities class action since the first shareholder case was brought 20 years ago, and it might be the only one for years to come.