A court has found Qoin cryptocurrency issuer BPS Financial made false and misleading claims about its product, in a win for the corporate regulator and a likely boost for a class action against the Gold Coast-based digital currency company.
A judge has questioned the “independent skill and judgment” applied to the pleading in a third class action filed against International Capital Markets over risky derivative products, amid a “hot contest as to carriage and forum”.
Concerned that First Nations customers are being targeted, the corporate regulator has ordered the owner of the Urban Rampage clothing chain to end Centrepay credit facilities.
AMP has lost its bid for soft class closure in a class action over allegedly excessive superannuation fees, with a judge finding the court should exercise “real caution” when class closure is opposed by the applicant.
A judge has appointed a contradictor for an upcoming settlement approval hearing in a class action by financial advisers against AMP over its buyer of last resort policy, saying the funder was taking a “very large” cut of the $100 million settlement.
Sydney lawyer and wealth guru Dominique Grubisa is challenging a finding in an ACCC case that her seminars made misleading statements and has sought to pause the court action until her appeal is heard, a bid a judge has warned won’t be “favourably received” by him.
The Environmental Defenders Office has lodged a complaint with ASIC on behalf of a member of UniSuper, accusing the Australian superannuation fund of greenwashing its products by mislabelling them as ‘sustainable’.
Macquarie Bank has agreed to pay a $10 million fine in proceedings brought ASIC after the bank admitted that it failed to monitor third-party withdrawals, resulting in a financial adviser’s theft of $2.9 million.
A judge has signed off on a $16 million settlement in a class action against Dixon Advisory, but the funder of a competing case that was stayed after losing a beauty parade has earned a fragment of the $1 million it sought from the resolution sum.
The Fair Work Commission has ordered a Bendigo Bank worker to come into the office two days a week, saying he was “only concerned about himself” in seeking to work from home full time.