Alexandra Folie

CIMIC has agreed to pay $45.25 million to settle a shareholder class action alleging it failed to properly inform the market about its investment in a Middle East company. 

A judge has allowed a class action against CBA and its former wealth management arm Colonial First State to add claims based on a novel theory of corporate responsibility that has implications for companies’ use of AI.

The law firm running a class action against ANZ and superannuation trustee OnePath wants a 29.4 per cent cut of the $50 million settlement, having run the case on a no win, no fee basis. 

Big Four bank ANZ and superannuation trustee OnePath will pay $50 million to settle a class action brought on behalf of super members allegedly charged excessive fees.

A settlement has been reached on the eve of trial in a class action against ANZ and OnePath alleging they slugged super fund members with excessive fees.

Vanguard Investments has been ordered to pay a penalty of almost $13 million for misleading the public about its $1 billion “ethically conscious” hedge fund.

A former EY partner and ousted board member at National Tiles has been ordered to pay indemnity costs after he lost a $1 million share dispute with the flooring company, with a judge finding he “unreasonably failed” to accept a settlement offer. 

Legal action by a Melbourne Football Club member challenging the AFL club’s board election rules has been dismissed, with a judge finding the rule banning campaigning by candidates is not oppressive as alleged.

A former EY partner and ousted board member at National Tiles has lost his $1 million claim alleging the company breached implied terms in a contract by requiring him to sign a “draconian, unreasonable and unacceptable” share agreement.

The ex-chair of former ANZ unit OnePath “has not been cooperating” in a class action alleging it breached its duties as a trustee of superannuation funds by slugging members with excessive fees to pay commissions to financial advisers, a court has heard.