Investors in Mayfair Groupās collapsed IPO Wealth Fund are set to recoup only a fraction of their alleged $67 million losses in a best-case settlement of a class action alleging the fundās trustee misled unit holders.
Crown Resorts has asked the court to appoint a contradictor to fight against a group costs order sought in shareholder class action accusing the casino giant of lax anti-money laundering compliance over a six-year period.
The University of Melbourne has hit back at the Fair Work Ombudsmanās allegations that it took adverse action against two casual academics to prevent them from claiming payment for extra hours worked, but admitted a supervisor penned an email referring to one of them as a āself-entitled Y-gennerā.
Cable TV giant Foxtel has lost a protracted IP battle with subsidiary of global tech giant Cognizant over a digital download patent for a modern DVR system.
Despite objections from numerous group members, a judge has tossed an underpayments class action brought by a self-represented applicant against Wilson Security, ruling that class actions should not be run without lawyers.
Embattled investment firm Linchpin Capital has sued auditors Grant Thornton and Moore Stephens for signing off on the compliance plan for a registered fund that allegedly used investor money to advance the company’s business interests and line its directors’ pockets.
The ACCC has brought court action accusing national architecture firm Ashton Raggatt McDougall and its former boss of attempting to rig bids for a $250 million building project at Charles Darwin University by asking competitors not to submit a tender.
Construction firm CIMIC has foreshadowed a fight over āobscureā new pleadings in a two year-old shareholder class action alleging the company failed to keep the market informed about issues with its Middle East operations.
The Australian Securities and Investments Commission has suffered a defeat in proceedings alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, with a judge finding the regulator “ignored the circumstances” in which the product was distributed.
The federal government has flagged reforms to Australiaās privacy laws in the wake of a cyberattack that left the data of up to 10 million current and former Optus customers exposed, including heftier penalties for companies that fail to safeguard usersā personal data.