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The ASX is fighting for a key witness in ASIC’s case over alleged misleading statements concerning its CHESS replacement program to appear at an upcoming trial, saying he needs to be cross-examined in person.
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.
Four directors of regional airline Rex are set to decide this week whether they will remain silent in the face of allegations by the corporate regulator that they misled investors about the company’s financial position.
ASIC has lost its case alleging software company Nuix failed to publish corrective disclosures that contradicted the growth story presented to the market in a prospectus for its $1.8 billion float on the ASX.
A judge has asked for more information on why he should approve $43.1 million in legal fees in a class action against AMP that settled for $120 million, calling the amount "extraordinary" and "troubling".
NAB super fund trustee NULIS Nominees had no power to continue charging members for $165 million in fees to pay adviser commission after conflicted remuneration was banned in 2016, an appeals court has heard.
AMP super members are set to receive $60 million in a class action stemming from the banking royal commission, with the average payout being under $100, a judge has heard.
Online trading platform Plus500 is challenging a court ruling that investors who lost money on highly leveraged contracts for difference can proceed with their class action despite signing arbitration clauses.
Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.
Plus500 has lost its bid to permanently stay a class action by investors who lost money trading in highly leveraged financial products, with a court finding that the arbitration clause relied on by the online trader was unfair and void.