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ASIC has lost its challenge to findings that a revenue sharing arrangement between the Commonwealth Bank of Australia and former subsidiary Colonial First State Investments did not breach conflicted remuneration provisions of the Corporations Act.
A class action against Carnival over norovirus outbreaks on its Sun Princess cruise ship has defeated the cruise operator’s second strike out bid, with a judge saying the failure to identify what exactly went wrong “may not be fatal” to the case.
Retailer Best & Less will back-pay staff over $5.2 million as part of an undertaking to the Fair Work Ombudsman, after an internal review found salaried managers were not paid enough to cover their entitlements.
A Blue Sky director has pointed the finger at auditor Ernst & Young in a class action alleging the collapsed investment firm misled shareholders by misstating its assets under management.
Noumi has admitted in a case by ASIC to breaching its continuous disclosure obligations by overstating the value of its inventory and failing to give a true and fair view of the company’s financial position.
IG Markets has been hit with a second class action for offering “highly risky and unsuitable financial products” to retail investors, with a third competing proceeding in the works.
A judge has refused a lead applicant’s novel bid for financial information to use at settlement discussions in a group proceeding against Dixon Advisory.
An in-house lawyer is barred from representing his employer in proceedings against a law firm after a judge found it breached rules in Western Australia that require corporate litigants to be represented by solicitors.
A PricewaterhouseCoopers partner may launch defamation proceedings against the professional services firm over two press releases which he says falsely linked him to a tax leaks scandal in an attempt to “offer scapegoats” to the public.
Kerry Stokes and Seven Network have lost their bid for an extension to produce 8,600 emails exchanged between the media company and Ben Roberts-Smith’s lawyers in Fairfax’s bid for costs in defending the defamation case over alleged war crimes