A class action against Westpac over allegedly excessive insurance premiums that was at the centre of a successful High Court challenge to common fund orders may back out of funding the case in the wake of the landmark ruling.
A Federal Court judge has ordered Westpac to pay a $9.15 million penalty after one of its financial advisers breached the best interests duty by giving customers bad advice that resulted in millions in losses.
A beauty contest to lead a class action against Monsanto over its allegedly cancer-causing weedkiller Roundup could be on foot, with the US chemical giant now facing one class action in the Federal Court and another in the Victorian Supreme Court.
The Australian Competition and Consumer Commission has raised preliminary competition concerns about Bauer Media’s planned $40 million acquisition of Pacific Magazines, a deal that would combine Australia’s two largest magazine publishers, saying competition needs to be preserved even in declining markets.
A Federal Court judge has frowned on a bid to transfer 12 individual cases over allegedly defective pelvic mesh to various state and territory courts, saying the manner in which the cases had been brought reminded him of the 1990’s when “mobile phones resembled house bricks” and suggesting the cases could be brought as a class action.
A judge overseeing a consolidated class action against four AMP subsidiaries and two trustees over allegedly excessive superannuation fees has ordered the respondents to coordinate after the lead applicants raised concerns about duplication of work.
A Federal Court judge has signed off on an $18 million settlement in a shareholder class action against UGL over its Ichthys power plant disclosures under which $8 million will be distributed to shareholders.
Westpac is facing a class action on behalf shareholders in three countries over its alleged anti-money laundering and counter-terrorism financing breaches and disclosures.
The Australian Securities and Investments Commission has taken legal action against National Australia Bank alleging thousands of violations of the law through its fees for no service conduct, exposing the bank to the risk of significant penalties.
The applicants in a group of class actions over defective Takata airbags are pushing ahead with a challenge to the power of the NSW Supreme Court to issue class closure orders in the aftermath of a High Court decision shooting down common fund orders, a fight that could send the cases back to the High Court.