A NSW Supreme Court judge has voiced concerns in an unprecedented jurisdictional battle that a decision that leaves competing class actions against AMP still raging in separate courts may force the Federal Court into a corner.
AMP’s financial planning unit was hit Wednesday with an enforcement action by the corporate regulator alleging its planners generated extra commissions by replacing, rather than transferring, life insurance policies for existing clients.
The former head of Australian mining company Kimberley Diamonds has been acquitted of charges that he signed off on market statements that assumed luxury retailer Tiffany & Co would pay higher prices for the company’s rare yellow diamonds.
Respondents involved in a case brought by investment adviser Deep Investments over alleged share trading losses, including a solicitor who was sued for allegedly failing to inform the company of exchanges with ASIC about a potentially deceptive employee, are appealing a decision to allow the case to continue.
The judge overseeing the Maurice Blackburn-led shareholder class action against Slater and Gordon that resulted in a $36.5 million settlement has signed off on additional costs for the law firm and the funder that backed the case.
After a marathon hearing in court on Monday, law firm Squire Patton Boggs lost its battle to avoid client communication restraints that other parties in the GetSwift class action saga voluntarily agreed to.
The Federal Court has approved Commonwealth Bank’s $25 million settlement with ASIC over allegations it manipulated the bank bill swap rate.
MWL Financial Group’s co-founder and a group of superannuation and investment funds are seeking court approval to bring a derivative suit on behalf of the investment adviser against its private equity-backed US parent company, Focus Financial.
A legal stoush over a “secret” side agreement between the lead applicant in a shareholder class action and a litigation funder has been shut down, with the Full Federal Court on Monday dismissing an appeal by the applicant.
A judge overseeing a securities class action against former directors of failed pharmaceutical company QRxPharma and its legal advisor DibbsBarker has ruled that certain documents, including numerous emails sent by the law firm, are protected by attorney-client privilege.