The funder that backed a class action against McMillan Shakespeare over ‘illusory’ car warranties, which settled for less than 20 per cent of the $47.6 million claim value, will seek court approval for a 30 per cent cut of the $9.5 million settlement.
The lead applicant in a $47.6 million class action against McMillan Shakespeare over ‘illusory’ car warranties will seek court approval for a $9.5 million settlement, less than 20 per cent of the claim value.
A former Macquarie Bank financial adviser previously banned for life from providing financial services has been hit with criminal charges.
Two former executives of mining giant Rio Tinto accused by ASIC of breaching their directors duties have asked the court to vacate an upcoming trial, after raising concerns that COVID-19 could affect their ability to appear.
The Federal Court has ordered former Tennis Australia director Harold Mitchell to pay a $90,000 penalty after a “narrow” win for ASIC in its case over the domestic broadcast rights to the Australian Open.
Facing an ASIC enforcement action over alleged breaches of Australian credit laws, payday lenders BHF Solutions and Cigno claim they did not need a licence to issue loans to hundreds of thousands of consumers.
Funeral insurer ACBF Funeral Plans and parent company Youpla Group are facing legal action from the corporate regulator alleging they breached financial service laws by making false claims in a funeral insurance policy sold primarily to Aboriginal consumers.
A former general manager of Sigma Healthcare is facing up to twenty years in prison after being charged with two counts of insider trading.
A judge has set aside the pleadings in ASIC’s case accusing a Worrells liquidator of aiding and abetting the illegal phoenix activity of collapsed Queensland property investment advisor Members Alliance Group, saying he is entitled to a “coherent pleading”.
Australian Securities and Investments Commission deputy chair Daniel Crennan has quit his post after questions emerged over $70,000 in rental assistance payments to the regulator’s enforcement head.