A judge has signed off on a $32.4 million settlement in a shareholder class action against engineering services firm CIMIC, including a hefty legal bill for the firm that brought the case.
The High Court has agreed to hear a challenge by Westpac to a ruling in favour of ASIC that found the bank violated its duty to act in customers’ best interests during a superannuation rollover campaign, a case that could clarify the line between personal and general financial advice.
A former general counsel who claims she was sacked from AMP after raising concerns about the company’s fees for no services conduct has mostly succeeded in her bid for further particulars of allegations made in the company’s defence, including a claim that she called “tantamount to extortion”.
Australia’s second largest debt recovery agency has been ordered to pay $500,000 after the company admitted breaching Australia’s consumer laws by unduly harassing and misleading three people over debts they did not owe.
A maritime development company has failed in its bid to resume its competition lawsuit against NSW Ports, with the Federal Court ordering that the proceedings remained stayed until a similar case brought by the competition regulator is heard.
Former AMP general counsel Larissa Cook, who is suing the financial services giant for alleged bullying, wants her former employer to provide details of claims in its defence that senior executives raised concerns about her conduct and that her performance was being “managed”.
Engineering services company CIMIC will fork over $32.4 million to settle a shareholder class action, with group members expected to get 40 per cent of the settlement total if the court approves the requested legal costs and funder’s commission.
A court has slashed the costs awarded to a Tucker & Cowen name partner in a lawsuit brought by the liquidators of failed fund manager Equititrust, citing a recent High Court ruling that found self-represented lawyers cannot recover their own expenses.
The High Court has granted special leave to cartridge reseller Calidad after the company lost an intellectual property dispute with printer giant Seiko Epson and was hit with a general injunction barring it from further patent infringement.
Engineering services company CIMIC has agreed to settle a long-running shareholder class action launched in the wake of media reports of an alleged $42 million bribe paid by the firm to win a lucrative oil contract.