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Commonwealth Bank of Australia has resolved a lawsuit brought by a former general manager alleging he lost his job for blowing the whistle on a system allegedly used by staff to inflate their bonuses.
Companies associated with Mayfair's IPO Wealth Fund should be wound up because they contained assets "artificially inflated" in value and ran what was effectively a Ponzi scheme, the Victoria Supreme Court has heard.
AUSTRAC has slugged US financial services giant State Street Bank and Trust Company with a $1.24 million fine for failing to report international funds transfers in breach of anti-money laundering and counter-terrorism laws.
Common fund orders are again under scrutiny in a class action which was at the centre of the High Court’s decision to strike down the orders, with a NSW Supreme Court judge sending back to the appeals court the question of whether the orders can be made at settlement.
The Australian Competition Tribunal has shot down ACCC moves to restrict the use of buy now, pay later finance for the purchase of solar goods and other new energy technology products.
The ACCC has asked a court to impose a $3.5 million penalty against eyewear retailer Oscar Wylee for making misleading representations about its charitable donations and affiliations, including that it would donate one pair of eyeglasses to charity for every pair purchased.
The director of besieged investment group Mayfair 101 has called for an investigation into the Australian Securities and Investments Commission, calling a winding up proceeding brought by the financial watchdog "a form of malicious prosecution" based on a "flawed fundamental misunderstanding" and supported by an erroneous report from auditor Deloitte.
Alex Elliott, the son of former Banksia Securities class action lawyer Mark Elliott, must hand over documents revealing his financial interests in his father’s litigation funding company and law firm, after the judge overseeing professional misconduct claims against lawyers in the class action rejected his claims that the discovery was a fishing expedition.
Sydney-based research foundation Brien Holden Vision Institute has filed a lawsuit alleging three senior researchers misused confidential information when they jumped ship to a rival research group and filed applications to patent seven inventions for opthalmic lenses designed to treat myopia allegedly based on that information.
GetSwift has promised the Federal Court that it will inform the lead applicant in a shareholder class action if any of its assets are to be transferred outside of Australia, after the applicant raised concerns about the logistics company's proposed relocation to Canada.