An investor who successfully objected to an initial settlement of four class actions over the failed Willmott Forests managed investment scheme lost a bid to have his legal costs paid by the defendants, with a judge saying the objections were not the primary basis for his refusal to sign off on the agreement.
Westpac unit BankSA is in talks to resolve a class action alleging it failed to detect the fraud of convicted Ponzi schemer Michael Samra.
US asset management firm State Street has dropped its trade mark case against superannuation fund HESTA over its Fearless Girl statue, after HESTA agreed to stop all marketing and promotion involving a replica of the famous New York statue.
AMP has been hit with a class action alleging it breached its duty of care to superannuation members by charging them unreasonably high fees, and a second class action is expected within weeks.
Law firm Quinn Emanuel Urquhart & Sullivan has told the court it will appeal a judgment permanently staying its shareholder class action against AMP over the wealth manager’s fees for no service scandal.
A Federal Court judge has ruled he has jurisdication to hear a case brought by a group of investors against a unit of Credit Suisse over complex derivative products known as MINI warrants, despite the bank’s argument that the claims allege breach of contract under common law, not federal law.
The liquidators of Gold Coast fund manager Equititrust are seeking court approval of a confidential settlement of two proceedings brought against KPMG for allegedly failing to properly audit the firm prior to its collapse.
Maurice Blackburn has launched a rare competition class action against five global investment banks over a conspiracy to manipulate foreign exchange rates that has spawned class actions and lawsuits by regulators across the globe.
An appeals court has slashed a damages judgment against international banknote manufacturer CCL Secure in a case alleging it tricked its Nigerian agent into signing away his commission, cutting the award from $65 million to $1.8 million.
Mortgage lending and investment firm RMBL Investments has been ordered to withdraw all communications with its customers that encouraged them to opt-out of a consumer protection class action against the firm.