New lawsuit

Two former Fortrend Securities advisors, who face litigation over their defection to a rival, have hit back with a lawsuit of their own alleging the brokerage’s CEO sent a string of angry emails in a dispute over who should foot the bill for client expenses.

A Melbourne pawnbroker is facing a class action over alleged “unjust transactions” involving loans that were given in exchange for customers’ sentimental items and with annual interest rates equivalent to 480 per cent.

The former head of brand marketing at cosmetics retailer Mecca Brands has sued the company and its chief marketing officer for allegedly using her maternity leave as a test to see if her position should be made redundant. 

A senior ABC producer has sued the broadcaster, alleging he’s owed $290,000 in underpayments, including for working an average 70 hours a week on the documentary series ‘Australian Story’.

REST Super faces a class action alleging the supererannuation trustee deducted premiums for income protection insurance that provided no benefit to members.

Herbert Smith Freehills has filed proceedings against its former client United Petroleum, seeking costs of successfully defending a lawsuit alleging it acted negligently in relation to the company’s failed initial public offering in 2016. 

In a case believed to be the first of its kind, the liquidators of boiler room trader Forex Capital Trading have sued ASIC, seeking to claw back over $20 million in fines and costs they says constituted unfair preference payments and should be distributed among the company’s out-of-pocket clients. 

The Australian Securities and Investments Commission has taken two units of Paladin Group and one of its directors to court for allegedly raising more than $100 million from 258 investors without a financial services licence.

Online broker International Capital Markets has been hit with a second class action for selling “excessively risky” derivative products known as contracts for difference to retail investors. 

Mercedes-Benz has been hit with a competing class action over alleged defeat devices designed to cheat on diesel emissions tests, over a year after the first class action was filed.