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Major banks hit back at rate-rigging class action, argue claims are barred
Competition & Consumer Protection 2022-04-04 9:10 pm By Cindy Cameronne

Five major banks including JPMorgan, Citibank and UBS have denied all wrongdoing in a class action accusing them of entering a cartel agreement to rig foreign exchange rates and argue the claims were brought out of time or are barred by settlements in overseas proceedings.

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J&J won’t contest follow-on pelvic mesh class action
Product Liability 2022-04-04 5:15 pm By Cat Fredenburgh

An additional 1,200 women who were implanted with defective pelvic mesh devices will be eligible for compensation after Johnson & Johnson unit Ethicon agreed that findings in an earlier class action which it unsuccessfully fought all the way to the High Court should apply to a follow-on class action.

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WSP to target another insurer over Opal Tower class action coverage after discovering $50M policy
Insurance 2022-04-04 3:56 pm By Cat Fredenburgh

The structural engineer behind Sydney’s Opal Tower plans to drag insurer Tokio Marine into a lawsuit against two of Icon’s insurers, after discovering another $50 million policy that responds to claims in a class action brought by apartment owners.

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ASIC did not threaten security firm with alleged links to bikie gang, court finds
ASIC 2022-04-04 4:42 pm By Miklos Bolza

ASIC did not issue threats to a Sydney security company that was being investigated for links to outlaw bike gangs and defrauding the Commonwealth, according to a judge who found the corporate regulator legally terminated its contracts with the company.

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Westpac agrees to pay $1.5M to settle ASIC case over unsolicited insurance
Financial Services 2022-04-04 1:51 pm By Cat Fredenburgh

Westpac has agreed to pay $1.5 million to settle proceedings brought by ASIC for misleading 141 customers into believing they had purchased add-on insurance.

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Colonial First State settles MySuper class action for $56M on eve of trial
Class Actions 2022-04-04 2:59 am By Christine Caulfield

Colonial First State will pay $56.3 million to settle a class action that accused the wealth management group of delaying the transfer of $3.2 billion in customer funds to low cost MySuper accounts.

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Slater & Gordon touts superior track record in battle to lead Beach Energy class action
Class Actions 2022-04-01 6:29 pm By Cindy Cameronne

Two heavyweight plaintiff firms battled it out Friday to run a shareholder class action against Beach Energy, with Shine Lawyers saying it should be rewarded for setting the price of the contingency fees sought in the case and Slater & Gordon arguing it has a better track record in class actions.

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Full Court ruling on MIS regime may not resolve funding issues in RFG class action, court hears
Class Actions 2022-04-01 4:54 pm By Cat Fredenburgh

A case before the Full Court that will revisit the question of whether class actions are managed investment schemes may not resolve all of the funding controversies that have emerged in a class action against franchise giant Retail Food Group, a court has heard.

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Atanaskovic Hartnell founder abused, belittled ex-general manager, court finds
Employment 2022-04-01 10:39 pm By Christine Caulfield

Sydney law firm Atanaskovic Hartnell has been ordered to pay more than $160,000 to a former general manager who was found by a court to have been the victim of a “campaign of denigration” by one of the firm’s founders.

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Ex-Herbert Smith Freehills lawyer disqualified from feud with former Tennis Australia boss, ASIC says
ASIC 2022-04-01 7:02 pm By Christine Caulfield

A Federal Court registrar overseeing a costs dispute between ASIC and former Tennis Australia president Steven Healy worked in the practice group where the costs were accrued and should recuse herself, the regulator has said.

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