Investment manager IOOF has failed to persuade a judge that the applicant in a failed shareholder class action should face indemnity costs for rejecting a $6 million offer to settle the case.
A judge has dismissed a securities class action against Insignia Financial, formerly known as IOOF, in the second judgement in two days to find no loss to shareholders.
The corporate watchdog has been subpoenaed for its investigation files in the latest development in a protracted discovery fight in a shareholder class action over alleged misconduct by wealth manager IOOF.
A judge has given the green light to expanded misconduct allegations in a shareholder class action against IOOF, including claims of insider trading and front-running.