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Pointing to a pattern of non-compliance with his orders, a judge hearing a shareholder class action over the collapse of mining company Cudeco has expressed concerns about “significant” delays in the case.
Australian Unity hit with $7M penalty for failing to properly vet investors
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A judge has ordered Australian Unity to pay a $7.1 million penalty in ASIC proceedings alleging it pumped more than $9.5 million into a risky mortgage scheme without properly vetting investors.
Binance agrees to $10M penalty in ASIC case, but judge wants more info
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Binance has agreed to a $10 million penalty in ASIC’s case alleging the defunct crypto firm misclassified retail customers as eligible to invest in risky derivatives, but a judge wants more details before approving the deal.
ASIC sues BDO, director over audit reports for Dubber
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The corporate cop has sued BDO Audit and director Dean Just in the Federal Court over alleged false and misleading reports it made for ASX-listed software company Dubber.
APRA hits super trustee Diversa with additional licence conditions
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Fresh off being sued by ASIC for investing $300 million into Falcon Capital’s failed First Guardian Master Fund, super trustee Diversa has been hit with additional licence conditions by the prudential regulator.
Leaders of Telegram ‘pump and dump’ scheme sentenced
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Four people who operated an illegal ‘pump and dump’ scheme through the Telegram app have been convicted and sentenced to terms of imprisonment via intensive correction orders.
Lawyerly holiday publishing schedule
Court tosses class action’s appeal over public housing demolition
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An appeals court has rejected a class action’s challenge to a finding that Homes Victoria had a legitimate purpose in deciding to demolish and redevelop public housing towers in Melbourne, despite “lamentable” lack of consultation.
$583M Blue Sky class action can bring insider trading claims
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A judge has allowed a shareholder class action over the collapse of asset manager Blue Sky to bring insider trading claims against several short sellers, as well as brokers Credit Suisse and Argonaut Securities.
BHP loses challenge to same job, same pay orders
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BHP and its in-house labour hire subsidiary have lost their bid to challenge same job, same pay orders by the Fair Work Commission workers at mines in central Queensland.