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.
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”.
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.
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.