Two failed class actions against CBA claim a judge used a “far too onerous test” for materiality in deciding whether the bank should have told the market about deficiencies in its anti-money laundering systems.
S&P is free to pay for a Rolls-Royce defence in “Rolls-Royce litigation” that alleges the agency engaged in fraud in assigning ratings to risky financial products, a judge has said.
A class action targeting Westpac subsidiary BT Funds and Tal Life Insurance was discontinued after documents discovered by the companies caused funder Woodsford to bow out.
A class action over S&P’s rosy ratings on risky financial products faces a preliminary fight over the relevance of expert evidence that seeks to prove fraud on the part of the ratings agency.
Applicants in two dismissed class actions against the Commonwealth Bank have secured an order staying an assessment of costs in the failed cases until the outcome of an appeal.
Two failed shareholder class actions against the Commonwealth Bank of Australia want to delay paying the bank’s costs until after their 62-ground appeal is heard.
A class action targeting Westpac subsidiary BT Funds Management and Tal Life Insurance is set to be discontinued less than a year after it was filed.
Whitehaven Coal has struck back at a class action led by the father of famed mining investor Nathan Tinkler, calling the claims that it failed to fulfil an implied term of a $150 million share subscription from 2012 “fanciful”.
Shareholders of Commonwealth Bank have lodged expected appeals challenging a decision tossing their class actions over alleged lax money laundering compliance, giving the Full Federal Court a chance to clarify when companies must disclose regulatory investigations.
While it was unfair for a judge to pick Gilbert + Tobin to run a class action against Jaguar Land Rover on the condition that it lower its funding rate, the judge was entitled to consider the law firm’s experience in a similar case against Toyota, an appeals court has said in its reasons.