The Australian Securities and Investments Commission is pushing back against an application by ANZ Bank to stay the regulator’s civil penalties case over disclosures related to a $2.5 billion equity capital raising while it defends against criminal charges related to the controversial share placement.
Electronics giant LG should pay a $700,000 fine for twice breaching the Australian Consumer Law when its offshore call centre workers misled customers complaining about faulty television sets that they had no rights to a repair, replacement or refund under the law, a court has been told.
Publicly-traded law firm Shine Lawyers has reached a confidential agreement to settle a class action alleging it misled shareholders about the value of ongoing business activities, the first ever settlement of a class action in Queensland.
An appeals court has overturned a decision dismissing a class action on behalf of enlisted Navy sailors alleging the Commonwealth of Australian breached a contract to train them to earn engineering degrees.
Allowing Vodafone’s proposed $15 billion merger with TPG to go ahead if there were a real chance that TPG could seriously compete in the market for mobile services would have “profound social consequences,” the competition watchdog told the Federal Court Friday as it unsuccessfully sought to push back a hearing over the deal.
US asset management firm State Street has dropped its trade mark case against superannuation fund HESTA over its Fearless Girl statue, after HESTA agreed to stop all marketing and promotion involving a replica of the famous New York statue.
AMP has been hit with a class action alleging it breached its duty of care to superannuation members by charging them unreasonably high fees, and a second class action is expected within weeks.
The law firm running a shareholder class action against GetSwift confirmed it was looking at the events surrounding Tuesday’s trading halt by the Australian Stock Exchange but would not be amending its ongoing case against the logistics company in light of it.
Maurice Blackburn has partly prevailed in an appeal of a judge’s decision to put the brakes on its shareholder class action against BHP while greenlighting a competing case brought by Phi Finney McDonald, with an appeals court ordering the rival law firms to negotiate a deal to consolidate their litigation.
Maurice Blackburn’s funding model rejected by a judge overseeing a beauty parade of class actions against BHP appeared structured to incentivise the firm to push up its legal fees, an appeals court said Monday on the first day of a high stakes hearing challenging a decision to shut down two of three competing cases against the mining giant.