Allens

ANZ’s failure to disclose a bailout by banks underwriting a $2.5 billion share placement has resulted in a penalty of less than $1 million, ending an eight-year saga that included an aborted criminal trial.

Google and Apple will argue at an upcoming trial that allegedly anti-competitive app marketplace restrictions were necessary to protect security and intellectual property.

Crown Resorts is seeking $10 million in security for costs from the law firm running a shareholder class action accusing it of lax anti-money laundering compliance, arguing the sum is justified in light of the firm’s potential recovery under a tiered group costs order.

Star Entertainment has made admissions in AUSTRAC’s action alleging non-compliance with anti-money laundering and counter-terrorism financing laws, but there are still substantial issues in dispute, a court has heard.

US car giant Ford has partially succeeded in its challenge to a judgment that found it owed more than $6,800 to the lead applicant in a class action over defective PowerShift transmissions, but the High Court may ultimately decide how damages should be calculated under the Australian Consumer Law for reduction in value.

A leading class action firm may seek compensation for those who were illegally detained after the High Court ruled that Australia’s system of holding individuals indefinitely in immigration detention is unlawful.

AustralianSuper has admitted that it contravened superannuation regulations when it failed to merge the accounts of members who had multiple accounts, but says it has remediated affected customers more than $69 million.

A judge has refused a bid by four major insurers to obtain the names of small businesses that register to join COVID-19 business interruption class actions, saying he did not want the companies contacting group members. 

A judge has dismissed court proceedings brought by the corporate regulator against superannuation trustee Diversa over its alleged failure to oversee a now-banned financial adviser, ruling that the knowledge of downstream entities could not be attributed to Diversa.

Citibank has argued group members should be asked to sign on to a class action accusing five major banks of entering a cartel agreement to rig foreign exchange rates before evidence is filed in the case, saying it was impossible to know how much the claims were worth.