Amelia Smith

People don't read terms and conditions when signing up to online services, an appeals court judge has told trading platform Plus500, which says the applicant in a class action is bound by an arbitration clause in its user contract.

A class action against CMC Markets has agreed to provide an additional $6.5 million in security, with the parties avoiding a contested hearing over the online trader's bid for $8.6 million.

A judge has questioned the level of detail in a 1,700-page proposed amended pleading in a shareholder class action over the collapse of fund manager Blue Sky, expressing "frustration" at the amount of unnecessary work that goes on in class actions.

CMC Markets has avoided production of unredacted solicitors' invoices to support a bid for $8.6 million to cover costs in a class action, despite the applicant arguing the trading platform's legal team was "top-heavy” and the security application unprecedented.

ASIC has won its case alleging Regional Express failed to correct an optimistic forecast before it entered administration last year, but failed to prove the company's optimism conveyed a "likelihood" or that three non-executive directors had actual knowledge of the collapsed budget airline's declining business. 

A shareholder class action has won access to reports by FTI Consulting and KPMG that were commissioned by water remediation company Phoslock, with a judge finding they were not created for the dominant purpose of providing legal advice.

A shareholder class action against water treatment firm Phoslock wants the company to hand over reports by KPMG and FTI Consulting, arguing the material is not protected by legal professional privilege because it wasn't produced for the dominant purpose of providing legal advice.

A class action by the owners of a residential Sydney building is challenging a ruling for Alucobond panel maker 3A Composites and supplier Halifax Vogel, which found developers were responsible for ensuring the cladding's safety.

A class action is challenging the Federal Court's post-trial ruling for Alucobond panel maker 3A Composites and supplier Halifax Vogel.

CMC Markets wants a class action to fork over $8.6 million more in security after substantially amending its case, which alleges the financial services firm issued complex, risky derivatives that were not appropriate for retail investors.