Amelia Smith

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

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.

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.

An ASX statement from budget airline Rex that was optimistic about its 2023 profit prospects should have been corrected by April, ASIC has told a judge, disputing claims that the statement was not a forecast but merely an expression of what the board hoped for. 

ASIC has wrapped up its case against regional airline Rex without evidence from its former executive chairman, who reversed course this week and admitted he misled investors and breached his directors duties.

The former executive chairman at regional airline Rex has admitted ASIC’s claims that he misled investors about the company’s position and breached his directors duties and may give evidence for the corporate watchdog, a court has heard.