Noumi has admitted in a case by ASIC to breaching its continuous disclosure obligations by overstating the value of its inventory and failing to give a true and fair view of the company’s financial position.
A Blue Sky director has pointed the finger at auditor Ernst & Young in a class action alleging the collapsed investment firm misled shareholders by misstating its assets under management.
A self-managed superannuation that has taken Slater & Gordon to court over the acquisition of its shares in the firm by Allegro Funds is seeking to join the private equity firm to the proceeding.
A shareholder class action has been filed against medical glove manufacturer Ansell Limited following an earnings guidance downgrade blamed on COVID-19.
The Federal Court has granted a bid by plaintiffs in competing class actions against Downer EDI to transfer their cases to the Victoria Supreme Court, where a four-way contest will take place.
The Australian Securities and Investments Commission has filed its first action alleging breach of obligations in designing and selling financial products, accusing online investment platform eToro of inappropriately exposing clients to high risk CFDs.
Auditor Ernst & Young has filed cross-claims against Blue Sky in a shareholder class action accusing the collapsed investment firm of misleading shareholders by misstating its assets under management.
Building materials giant James Hardie Industries is facing a class action alleging it breached its disclosure obligations over its adjusted net income forecasts for the 2023 financial year.
The possibility that a NSW judge will revoke a contingency fee order made in a class action over Arrium’s collapse is irrelevant to whether the proceedings should be transferred from Victoria to the appropriate forum, Arrium’s auditor KPMG has told a court.
ASIC has brought enforcement action against Vanguard Investments Australia, accusing the investment firm of misleading claims that its ethically conscious hedge fund screened securities for their environmental, social and good governance bona fides.