The Australian Securities and Investments Commission has scored a victory in its long-running case against GetSwift, with the Federal Court finding the company and its directors breached the Corporations Act and ASIC Act through their “public relations-driven approach” to announcements on the Australian Stock Exchange.
Accounting firms EY and Pitcher Partners ignored āfront page newsā that Slater & Gordonās acquired business Quindell was scrutinised by a UK regulator after reporting a $250 million (Ā£137 million) loss, a court heard on the second day of trial in a class action by the law firmās shareholders.
Accounting firm Pitcher Partners gave faulty advice ahead of Slater & Gordon’s disastrous $1.2 billion Quindell acquisition that was responsible for $800 million in the businessā value ādisappearingā within six months, a court heard on the first day of trial in a long-running class action by the law firm’s shareholders.
Lithium producer Vulcan Energy has won a court injunction blocking Beijing-based short seller J Capital from releasing a critical report on the Perth-based company for one week.
Crown Resorts has reached a $125 million settlement in a shareholder class action, avoiding a six-week trial scheduled to begin on Monday.
A settlement in the class action against Crown Resorts put paid to an in-person trial before it began, but gathering in court on Friday to notify the presiding judge of the happy outcome was enough to remind the Victorian litigators what they had missed over the past 18 months.
An in-principle settlement has been reached with law firms Arnold Bloch Leibler and Slater & Gordon in a class action over Slater & Gordon’s disastrous $1.2 billion Quindell acquisition.
Investors in collapsed stockbroker Halifax Investment Services have failed to overturn decisions in Australia and New Zealand relating to the date of realisation of their investments which have decreased the amount they can recover in the company’s liquidation.
ASIC has flagged it may take regulatory action against super fund executives and directors for switching personal investment options using insider information.
Australiaās largest onshore oil producer, Beach Energy, is facing a second shareholder class action investigation into whether it misled the market with its projected earnings from oil reserves on the Western Flank in South Australia.