Securities
Shareholder class action against Worley triumphs on damages in landmark ruling
A shareholder class action against engineering services firm Worley has prevailed after a hard-fought battle over damages, in a major decision following two trips to the Full Federal Court.
Class Actions
Arrium directors’ ‘misreading’ of class action no reason to block amendments, court told
A shareholder class action against Arrium directors and auditor KPMG over the $4 billion collapse of the steel manufacturer is seeking to amend its case, saying a “misreading” of the original pleading is no basis to refuse the application.
Insurance
IAG reaches settlement in $4B litigation over Greensill collapse
Insurance Australia Limited has settled $4 billion action brought by Germany's Greensill Bank and its administrator ahead of a six-month trial against the insurer and others over the failure of the trade financier.
Accounting
KPMG boss resigns in wake of whistleblower claims
KPMG CEO Andrew Yates has stepped down over his handling of a senior executive's reports of misuse of confidential client information, as the firm hires Big Six firm Allens to investigate the whistleblower's claims.
Class Actions
Class action dropping 2,000 group members from Carnival norovirus case
A Shine Lawyers-run class action over norovirus outbreaks on the Sun Princess cruise ship is cutting two of eight cruises from its case, a change set to affect up to 2,000 group members.
Competition & Consumer Protection
Amazon taken to court over alleged missing button battery warnings
In the first suit of its kind, the ACCC has taken Amazon Australia to court, alleging children’s backpacks for sale on its online marketplace through a third-party seller do not comply with mandatory button battery rules.
Accounting
BDO wants to pause Dubber’s $26M case over audit reports
Auditor BDO has asked the court to stay ASX-listed software company Dubber’s negligence suit over $26.6 million in alleged missing funds while a parallel case by ASIC over alleged false and misleading financial reports is on foot.
Class Actions
Woolworths fights class action notice reminding employees to keep records
Woolworths has told a judge in an underpayments class action where its remediation costs could stretch to $330 million that sending a notice to group members reminding them to keep records would be “premature and potentially misleading”.
Class Actions
ANZ appeals loss in NZ loans fees class action
ANZ's New Zealand unit is appealing its loss in a class action alleging it failed to repay fees and interest wrongly charged to customers who took out home or personal loans.
Class Actions
Class action over Glenmore Park development includes subsequent buyers, court told
A class action against developer Mulpha Norwest and the Penrith City Council over a 683-lot development in Glenmore Park will include secondary and tertiary purchasers, a court has heard.
