CBA has attacked two failed class actions’ “misguided” appeal, arguing that requiring companies to disclose incomplete information to shareholders would distort the market.
The Australian Securities and Investments Commission has told a trial judge that superannuation trustee Diversa canât hide behind outsourcing arrangements to explain its alleged failures to oversee a now-banned financial adviser accused of luring vulnerable customers into signing up to Diversa accounts.
The liquidators of failed engineering company Hastie Group have appealed a decision that knocked out half its $120 million case against Multiplex, Lendlease and numerous other builders.
A consolidated class actionâs bid to include claims concerning dairy company a2 Milkâs disclosures to the New Zealand stock exchange is in doubt, despite broad agreement between the parties that the claims can be pursued in Victoria.
Grain producer Viterra will be ordered to pay Cargill Australia $168.9 million after a judge found the Glencore-owned company misrepresented the performance capabilities of malt producer Joe White when it sold the company for $420 million in 2013.
Shine Lawyers is seeking court permission to use a list of employees provided by collapsed telecommunications contractor Tandem in a stayed class action to assist group members with making claims and recovering losses in the company’s liquidation.
A judge has said the applicant in a class action against Brambles has âside-steppedâ a challenge to a landmark class closure ruling that found there was no statutory power to shut out unregistered class action members, a decision that he said had âbedevilledâ the courts.
A leading silk who has been representing Crown Resorts in royal commission and class action proceedings, as well as ASIC in its high-stakes insider trading case against Westpac, has been elevated to the Victoria Supreme Court.
A judge has vacated next year’s trial in ASIC’s insider trading case against Westpac despite “misgivings”, and has made orders regarding confidential evidence after the Australian financial watchdog argued that handing the material to the bank could damage its relationship with its Hong Kong counterpart.
Crown Melbourne is not presently suitable to hold a casino licence in Victoria, counsel assisting the royal commission into the casino operator said Tuesday.