A law firm running a shareholder class action against building materials giant James Hardie Industries has argued for a 27.5 per cent group costs order, saying it was the “standard benchmark” for earnings guidance cases.
Wealth manager E&P Financial Group has agreed to a $16 million settlement in a class action by Dixon Advisory clients who allege they suffered financial loss when the firm and its directors encouraged the purchase of high risk securities.
A judge has approved the first settlement in dozens of negligence cases against the Minister for Home Affairs on behalf of refugees detained by the Australian government on the island of Nauru.
Westpac, Macquarie and ANZ have won soft class closure orders ahead of mediation in three class actions over flexible commissions schemes after a judge found they will improve the chances of settlement. In a judgment handed down on Thursday, Victoria Supreme Court Justice Lisa Nichols ordered that group members have to formally register in the…
Westpac, Macquarie and ANZ are seeking class closure orders ahead of mediation in three class actions over flexible commissions schemes, telling a court hearing they will be “completely at sea” without a better idea of the class size.
ANZ has been hit with a $10 million penalty in a case brought by the Australian Securities and Investments Commission alleging the bank’s home loan ‘introducer’ referral program breached credit laws.
Qantas has been ordered to pay $9.5 million in unpaid fees after the Western Australia Supreme Court resolved a dispute over the “fair and reasonable” amount owed for terminal services provided for the airline’s domestic and international flights.
ASIC has launched a bid to gain access to legal advice provided by Ashurst to Australia and New Zealand Banking Group in the regulator’s case over $35 million in allegedly illegal bank fees.
ANZ has rejected allegations by the financial regulator that $35 million in fees charged to customers for periodical payments between accounts was unlawful, saying the regulator’s case extended the scope of false and misleading representation claims.