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Five investment banks facing a class action for their alleged rigging of foreign exchange rates have slammed the "unclear" and "incredibly vague" case, saying it contains "literally trillions" of possible variations of the cartel agreement allegedly entered into.
Mining giant BHP is seeking to have foreign group members shut out of a shareholder class action over the Fundao dam failure in Brazil five years ago.
A judge has dismissed a class action accusing Government ministers of misfeasance in public office over the practice of securing Nauruan visas for those detained on the island.
Former Dover Financial director Terry McMaster on Monday admitted to personally drafting a so-called client protection policy described by a judge as an "exercise in Orwellian doublespeak", as the court heard evidence that the defunct financial firm ignored red flags raised by two law firms about the policy.
BHP has failed in a bid to shut down a class action over the Fundao dam failure pending criminal proceedings in Brazil, with a judge ruling the mining giant would not be prejudiced if the case proceeded for now.
The Australian Securities and Investments Commission formed the view that Dover Financial's "Orwellian" client protection policy was misleading in 2016 but did not raise its concerns with the now defunct firm until 2018, a court has heard.
Defunct Dover Financial, which faces a penalty hearing next year after it was found to have misled customers with an inaptly titled ‘client protection policy’, can bring an application for evidence from the corporate regulator that the policy did not harm anyone.
The Australian Securities and Investments Commission has won its case against defunct financial advisor Dover Financial and its former director, who famously collapsed during the banking royal commission, with a judge saying the company engaged in misleading and deceptive conduct through its inaptly titled ‘client protection policy’.