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.
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.
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.
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.
A shareholder class action against mining company Iluka Resources has received funding, the company said Thursday.
Law firm Quinn Emanuel has filed the first shareholder class action against AMP ahead of the beleaguered company’s annual general meeting on Thursday.
Commonwealth Bank has agreed to pay $25 million to settle claims by the securities regulator that it manipulated the bank bill swap rate.
Facing shareholder wrath in the wake of the Royal Commission’s damning revelations, AMP’s three female non-executive directors stepped down on Tuesday.
JB Hi-Fi has been grilled by the Australian Stock Exchange after slipping news of an earnings downgrade into a presentation at an investment conference.
A Federal Court judge has given the all-clear to a $132.5 million offer by QBE to settle a class action by shareholders angry about a $5 billion stock market wipeout for the insurance provider.