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The Australian Securities and Investments Commission will not seek to enforce a $7.2 million penalty agreed to by Dixon Advisory after admitting to the regulator’s allegations that it failed to act in its clients' best interests.
Insurance Australia Group faces a class action by shareholders over its disclosures connected to the impact of COVID-19 claims by policyholders.
Slater & Gordon has defeated Shine Lawyers in a contest to run a shareholder class action against Beach Energy, with a judge finding Shine’s tiered contingency fee arrangement was “mere window dressing”.
Bell Potter has defeated a lawsuit by Nicholas Bolton’s Keybridge Capital over a 2015 phone call which lasted one minute and 18 seconds in which the investment firm was accused of committing its client to buy $10 million worth of shares in defunct Molopo Energy.
A judge who lashed “unsatisfactory cooperation” between Chubb and British automotive distributor Inchcape has found the insurer’s policy covers some but not all costs stemming from a cyber attack which allegedly caused over $4 million in loss.
The lead auditor for Big Un's flawed 2017 independent audit, which overstated the failed video company's cash and cash equivalents by $8.2 million, has been convicted of failing to comply with auditing standards following an investigation by ASIC.
The corporate regulator will challenge a bid by payday lenders Cigno and BHF to stay its case pending their appeal to the High Court.
Irish insurer Zurich Insurance has refused consent for a class action over a defective New Zealand apartment block to proceed in the NSW Supreme Court as it mulls a High Court challenge to the case.
The CFMMEU and two of its officials have been hit with the maximum penalty for allegedly breaching right of entry rules and calling a safety advisor “disgusting homophobic slurs” at a worksite on the $5.4 billion Queensland Cross River Rail project.
Bristol-Myers Squibb unit Celgene and two generic drug makers have withdrawn an application for ACCC approval of a patent settlement that would have allowed for an early launch of a generic version of blockbuster cancer drug Revlimid.