Former legal representatives of companies in the Mayfair 101 group are considering an application to strike out part of an appeal that alleges their āflagrant incompetenceā led to director James Mawhinney copping a 20-year ban on soliciting investor funds.
Logistics company GetSwift and its directors are appealing a win for ASIC in the regulator’s case that alleged they breached their continuous disclosure obligations and engaged in misleading and deceptive conduct in the release of 22 ASX announcements.
The Australian Securities and Investments Commission has lost an interim injunction bid against the director of investment firm Mayfair 101 in its case seeking a contempt finding, despite arguing there was a substantial risk of harm to consumers.
Aware Finance, formerly StatePlus, has been fined $20 million for charging over 25,000 customers approximately $50 million for services they did not receive.Ā
In a boost to securities class actions, the High Court has ruled that directors of collapsed companies can be subjected to public examination by shareholders wanting to bring civil proceedings.
Rio Tinto will face a penalty in proceedings brought by the Australian Securities and Investments Commission alleging the mining giant misled shareholders about the resources of a Mozambique mining company it acquired for $5.8 billion in 2011 and later offloaded for $70 million.
The Australian Securities and Investments Commission has dropped its investigation into Nuixās financial statements in the lead-up to its 2020 public float, but will continue to probe the troubled tech company’s statements in the period since the initial public offering.
A court has ordered the winding up of investment manager PE Capital Funds Management, whose responsible entity Endeavour Securities has connections to collapsed financial services company Linchpin Capital.
The corporate watchdog has been subpoenaed for its investigation files in the latest development in a protracted discovery fight in a shareholder class action over alleged misconduct by wealth manager IOOF.
The corporate regulator has confirmed it has questioned the brother of former Nuix CFO Stephen Doyle and might seek further examination as part of its ongoing investigation of the troubled tech company.