Securities

S&P has reached a settlement in a case by two Cayman Island companies over alleged defective ratings but a class action won’t settle until “hell freezes over,” a court has heard.

A judge has OK'd a settlement in a class action against Treasury Wine Estates, along with $27 million in fees charged by Maurice Blackburn and Slater & Gordon, after initially questioning the difference between the firms' rates.

A judge has recused himself from hearing a class action against Fletcher Building, and has imposed a ban on presiding over any cases involving Maurice Blackburn for a period of time.

The funder of a failed class action against the founder of sandalwood producer Quintis and EY and has been hit with costs, despite arguing the order would set a bad precedent. 

A judge has temporarily excused uranium miner Paladin Energy from providing initial discovery in a shareholder class action, as the parties wait for a competing class action to be filed. 

Professional services giant KPMG has reached a settlement in a shareholder class action over the failure of mining company Cudeco.

ASIC has told a court that a PwC report into allegations of inaccurate coal pricing found that 12 “inconsistent” invoices issued by TerraCom resulted in a $1.15 million benefit to the company, contrary to the company's claim that the audit found no wrongdoing.

The corporate regulator has launched an inquiry into the Australian Securities Exchange following “repeated and serious failures”, while discontinuing its investigation into a one-day technical failure in December 2024.

Brookfield has shed 23.2 per cent of the stapled securities in major coal exporter Dalrymple Bay Infrastructure, but remains the major shareholder, retaining a 26.25 per cent interest in the venture.