Westpac has argued that ASIC should flesh out its case accusing the banking giant of insider trading before the $16 billion privatisation of electricity provider Ausgrid, saying the regulator has not explained the nature of the alleged inside information.
Two insurers have appealed a ruling that could provide a further $11.25 million to group members in a class action against sandalwood producer Quintis, further delaying finalisation of a settlement reached in the group proceeding over a year ago.
A judge has criticised agricultural giant Monsanto for its “highly unsatisfactory” conduct in ignoring court orders in a class action over its allegedly cancer-causing Roundup pesticides.
A judge weighing a $38.4 million settlement in a shareholder class action against aged care provider Estia Health has been told that two NSW Court of Appeal judgments barring class closure were âplainly wrongâ, but in deciding whether to lock group members out of the settlement the judge says he wonât need to grapple with the landmark rulings.
A Federal Court judge has ordered that a referee consider how junior barristers were used in assessing the legal costs in an insurance class action against Westpac which the bank has agreed to pay up to $30 million to settle.
The Commonwealth Bank of Australia is resisting a novel proposal by ASIC to use its CommBank app to notify 6.3 million customers of a $7 million fine against it for overcharging interest, saying the move would pose a “significant risk” to the public.
A judge has urged parties in a class action against Westpac over superannuation fees to hold an in-person mediation, saying that success rates have “plummeted” during the COVID-19 pandemic as more settlement talks are held virtually.
A judge has found he has power to order that opt out notices be sent to a limited number of Boral shareholders eligible to join two class actions that faced off last month in a class action beauty parade.
Hoping to avoid a lengthy trial like the 89-day hearing in the pelvic mesh class action against Johnson & Johnson’s Ethicon, a judge has suggested splitting up a class action hearing over TFS Manufacturing and IVS pelvic mesh products to focus on the question of the devices’ safety and efficacy first.
A $138 million class action settlement with IAG over alleged junk insurance will go ahead after a judge found he was “bereft” of power to vary his prior approval judgment and include late opt out bids by group members that threatened to derail the agreement last month.