A judge overseeing a class action over AMP’s fees for no service practice has dismissed the applicant’s bid to access communications between AMP and law firm Clayton Utz that led up to an ostensibly independent report that allegedly went through 25 rounds of edits with the wealth manager’s inhouse lawyers.
The New South Wales government has rejected a class action’s claims that it dropped the ball in relation to the identification and management of underground utilities which caused delays in Sydney’s $3 billion light rail project.
Liberty Financial unit Minerva has challenged a judgment that found two schemes it carried out were done with the primary purpose of securing a tax advantage.
While CBA’s defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.
A judge has signed off on a group costs order in a shareholder class action against food company Noumi and auditor Deloitte guaranteeing group members a return of at least 78 per cent, but noted the law firms’ cut may need to be reviewed to avoid a “disproportionate return”.
A second securities class action has been filed against failed Blue Sky Alternative Investments and auditor EY alleging financial reports materially overstated the health of the asset manager ahead of its collapse three years ago.
Virgin Australia’s insurers may be dragged into a class action accusing the airline of failing to disclose its true financial position in a 2019 prospectus for a $324 million capital raising.
The Commonwealth Bank of Australia knew about a “catastrophic” code error that caused widespread non-compliance with money laundering rules two years before it was disclosed to the market, a court has been told in a rare shareholder class action trial.
An appeals court has ordered a Perth silk to explain four bills in which entries marked ‘getting up’ accounted for over 36 days of work.
A class action on behalf of 3,500 business owners along Sydney’s light rail route has told a court that group members bore the brunt of the project’s delayed construction, described as “a train wreck which could be predicted from a mile away”.