Westpac is facing a class action on behalf shareholders in three countries over its alleged anti-money laundering and counter-terrorism financing breaches and disclosures.
Contact details of shareholders provided by GetSwift to the firm running a class action should not be used to recruit group members now that the common fund order in the case has been quashed, the logistics company has told a court.
The Australian Prudential Regulation Authority has flagged potentially “substantial gaps in risk governance” by Westpac as it formally kicked off an investigation into the bank and its executives for potential breaches of the Banking Act.
A self-imposed cap on legal fees and a reduced funding cut of a $16.5 million settlement in a class action against failed construction company Forge Group was the right call by the law firm and the funder behind the case, a judge has said in his reasons for approving the deal.
A judge has signed off on a $16.5 million settlement of a shareholder class action against collapsed engineering and construction company Forge Group.
Pizza chain Domino’s has been blasted for redactions in documents it has produced in a class action over worker pay, with a judge warning the franchisor that it could not act as “judge and jury” in deciding what information could be given to the applicant.
Fast food giant Domino’s has denied allegations that it violated consumer law with the representations it made to franchisees about the agreements its workers were covered under, saying it was only giving franchisees its opinion.
A judge has consolidated competing shareholder class actions against builder Lendlease brought by rival plaintiffs law firms, but has rejected the firms’ bid to jointly run the litigation and says one of them must go.
The Federal Court has rejected an “unusual” confidentiality regime proposed by Domino’s Pizza Enterprises which would have resulted in restricted access to discovered documents for the funder backing the class action against the global fast food giant.
UGL shareholders that signed up to a class action against the engineering company over disclosures related to its Ichthys power plant contract will get less than half of an $18 million settlement, even after the litigation funder takes a steep cut to its 30 per cent commission and the plaintiff’s firm caps its fees.