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Judge from Maurice Blackburn should not hear Fletcher class action, court told
Class Actions 2024-10-02 11:20 pm By Cindy Cameronne

A judge should be disqualified from hearing a class action against Fletcher Building because of his previous association with the funder, as well as public remarks he made as a plaintiffs’ solicitor, a court has heard. 

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Vanguard hit with record $12.9M penalty in ASIC greenwashing case
Securities 2024-09-25 10:45 am By Sam Matthews

Vanguard Investments has been ordered to pay a penalty of almost $13 million for misleading the public about its $1 billion “ethically conscious” hedge fund.

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Macquarie Bank fined almost $5M for market gatekeeper failures
Financial Services 2024-09-25 1:19 pm By Sam Matthews

Macquarie Bank has been fined a record $4.995 million for failing to stop the placement of suspicious orders on the electricity futures market.

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Suit alleges barrister used $1.3M of his company’s funds for chambers fees
Securities 2024-09-24 11:41 pm By Sam Matthews

Shareholders in lending platform Marketlend can bring a derivative suit against its directors for allegedly misusing company funds, including spending $1.3 million on barrister chambers fees. 

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CBA class actions win halt to costs battle pending appeal
Appeals 2024-09-23 2:45 pm By Cindy Cameronne

Applicants in two dismissed class actions against the Commonwealth Bank have secured an order staying an assessment of costs in the failed cases until the outcome of an appeal.

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Phoslock, KPMG to turn over info for possible shareholder class action
Class Actions 2024-09-23 11:51 pm By Cat Fredenburgh

Water treatment company Phoslock and auditor KPMG and have agreed to produce documents for a possible shareholder class action, but a privilege fight may still be on the cards.

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Failed CBA class actions want to stay fight over costs
Class Actions 2024-09-19 3:26 pm By Cindy Cameronne

Two failed shareholder class actions against the Commonwealth Bank of Australia want to delay paying the bank’s costs until after their 62-ground appeal is heard.

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ASIC’s former deputy chair Karen Chester cleared by corruption watchdog
Public Corruption 2024-09-12 10:03 pm By Andy Sidler

The corruption watchdog has issued a statement in response to reports suggesting ex-ASIC official Karen Chester faced an investigation, saying the deputy chair was never the subject of a probe.

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Boral class action trial paused as appeal flagged over questioning of ex-CEO
Trials 2024-09-11 3:35 pm By Christine Caulfield

Trial in a shareholder class action against Boral has been halted amid an appeal over a decision to allow questioning of former CEO Michael Kane about an email that mentioned a confidential EY report.

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Blue Sky directors may be ‘dragged back’ into shareholder class action, court told
Class Actions 2024-09-11 11:07 pm By Cindy Cameronne

Three former Blue Sky directors who were originally named in a shareholder class action against the collapsed fund manager might be “dragged back” into the case after its chief operating officer pointed the finger at him in his defence, a court has heard.

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