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BHP faces possible Australian class action over Brazil mine disaster
Energy & Natural Resources 2018-05-17 10:48 pm By Christine Caulfield

Boutique law firm Phi Finney McDonald is investigating a potential shareholder class action against BHP Billiton over the fatal Samarco disaster in Brazil, which saw the market value of the mining giant plummet by $25 billion.

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ASIC vows to use ‘every inch’ of power to go after corporate violators
Financial Services 2018-05-17 3:24 pm By Christine Caulfield

ASIC’s newly installed chief on Thursday slammed banks and other financial firms for their “trust deficit” and vowed to deploy “every inch of our powers and tools” to go after violators.

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Quinn Emanuel AMP financing heralds era of class action beauty pageants
Analysis 2018-05-16 3:09 pm By Christine Caulfield

The financing arrangement underwriting Quinn Emanuel’s shareholder class action against AMP, which will earn its partner Burford Capital a record low 10 percent of any recovery, sets a new standard in class action litigation funding, and is expected to spark greater price competition in the industry. 

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Law firm rivals in bidding war to woo AMP shareholders
Class Actions 2018-05-15 10:15 pm By Christine Caulfield

A bidding war erupted Tuesday among law firms angling to lead a $2 billion shareholder class action against AMP, with Maurice Blackburn announcing a “super deal” and Quinn Emanuel besting that with a funding arrangement to “shake up” the market.

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Judge takes scalpel to Commonwealth Bank class action
Class Actions 2018-05-15 10:00 pm By Cat Fredenburgh

The judge overseeing a Maurice Blackburn-led shareholder class action against Commonwealth Bank of Australia over allegedly lax anti-money laundering and anti-terrorism financing controls has struck out a portion of the statement of claim for “pleading deficiencies”.

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IT consultant charged with insider trading after ASIC probe
White Collar 2018-05-14 5:07 pm By Christine Caulfield

A Sydney-based IT consultant faces multiple charges of insider trading after illegally accessing stock information from a financial publisher, the Australian Securities and Investments Commission said Monday.

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Retail Food Group faces shareholder class action
Franchises 2018-05-11 9:58 pm By Cat Fredenburgh

Retail Food Group has been hit with a shareholder class action alleging it failed to make adequate disclosures regarding the financial health of its franchise network.

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AMP vows to defend two shareholder class actions
Class Actions 2018-05-10 10:28 pm By Christine Caulfield

AMP says it will “vigorously defend” two class actions by shareholders in the wake of scandalous revelations at the Royal Commission that led to a $2 billion market cap drop.

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$26M funding cut to hobble ASIC, experts say
Securities 2018-05-10 10:02 pm By Christine Caulfield

The Federal Government’s $26 million cut to ASIC’s budget has been blasted by experts and the opposition for undermining the corporate regulator, already facing the heat of the Banking Royal Commission.

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Secret side deal in class action holds up $19.25M settlement
Class Actions 2018-05-10 8:27 pm By Miklos Bolza

A “secret” side agreement between the lead applicant in a shareholder class action and a litigation funder is at the centre of a dispute in the Federal Court that is delaying distribution of a $19 million settlement in the case.

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