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Four insurers have agreed to fork over $1 million to settle an investor class action against lender Axsesstoday over an allegedly misleading prospectus for a bond offering, while claims against PricewaterhouseCoopers will move forward.
Billabong founder Gordon Merchant has lost his challenge to a decision by the ATO to increase his tax liability to $31 million, finding that he conducted a “wash sale” of his Billabong shares and engaged in dividend stripping on the sale of bio plastics manufacturer Plantic Technologies.
The High Court has been asked to overturn a NSW Court of Appeal decision finding it had no power to exclude unregistered group members from a settlement, which conflicted with Federal Court precedent, hearing the divergence of the important issue “can only be resolved by the High Court”.
A judge that tossed two shareholder class actions against the Commonwealth Bank of Australia has found the bank did not have to alert investors to the possibility of AUSTRAC proceedings, saying investors did not expect to be apprised of the "toings and froings" of regulatory investigations.
A former HWL Ebsworth client has lost his argument that the firm must reimburse him for $22.8 million in expenses and interest after a judge found the law firm was negligent in advising on a joint venture contract for a Sydney land development, which allegedly lost him $130 million.
Optus has denied that it ‘cloaked’ the true dominant purpose of a Deloitte report into a major data breach in 2022, arguing on appeal that the report was privileged and that a class action should not have access to it.
A law firm investigating a group proceeding against non-bank lender Latitude over a data breach last year has called on the information commissioner to give an update on a related class action-style complaint.
A former senior manager at Deloitte terminated for alleged inappropriate conduct in the workplace has lost her bid to bring an unfair dismissal claim out of time, despite the Fair Work Commission finding her case had merit.
A Perth-based forex trader that allegedly failed to return investors’ funds or any profits made on trading has taken no steps in the undefended class action, a court has heard.
A former capital partner at HWL Ebsworth has lost his argument that he remained in the firm’s partnership until last month, after a judge found he was invalidly expelled in 2020.