A judge has found that ANZ breached continuous disclosure rules by failing to disclose a $750 million bailout by underwriters Deutsche Bank, Citigroup and JP Morgan during its $2.5 billion equity capital raising in August 2015.
A second law firm is likely to throw its hat in the ring to run a competing class action against Qantas over flight cancellations in the COVID-19 pandemic, but a judge has made orders trying to side-step a carriage fight, criticising them as “wasteful and expensive”.
Johnson Winter Slattery has lured to the firm Corrs Chambers Westgarth’s intellectual property litigator Chrystal Dare, who led the historical copyright case over the rights to the Aboriginal flag.
The runner-up in a contest to administer Johnson & Johnson’s $300 million settlement of two pelvic mesh class actions has lost a challenge to a decision awarding the prize to the team of Slater & Gordon, BDO and the firm of former Shine Lawyers solicitor Jan Saddler.
Shareholders of failed engineering firm RCR Tomlinson have secured a $40 million settlement in a class action brought over alleged misleading ASX statements.
The High Court has granted defunct online educator Captain Cook College special leave to appeal a finding that it engaged in systemic unconscionable conduct by enrolling thousands of unsuitable students, who accrued $60 million in debt but never finished their courses.
A judge has said that an underpayments class action’s challenge to hospitality giant Merivale’s argument that it does not owe back wages because it relied on an enterprise agreement it believed was valid should be heard before trial.
ASIC has lost its challenge to findings that a revenue sharing arrangement between the Commonwealth Bank of Australia and former subsidiary Colonial First State Investments did not breach conflicted remuneration provisions of the Corporations Act.
Dell Australia has been ordered to pay a $10 million penalty for making false and misleading representations about the discount prices of add-on computer monitors.
A judge has ordered KPMG to turn over its complete audit files for CuDeco in a shareholder class action against the defunct mining company’s former company directors and the accounting firm over allegedly misleading statements about the value of ore reserves at CuDeco’s Rocklands mines in Queensland.