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A judge that tossed two shareholder class actions against the Commonwealth Bank of Australia has found the bank did not have to alert investors to the possibility of AUSTRAC proceedings, saying investors did not expect to be apprised of the "toings and froings" of regulatory investigations.
Two class actions have failed to convince a judge that the Commonwealth Bank of Australia's money laundering compliance failure which led to a $700 million penalty was "law breaking on a grand scale" that should have been disclosed to the market, the latest shareholder case to flop after being taken to trial.
Westpac subsidiary BT Funds Management and Tal Life Insurance have foreshadowed applications to strike out the pleadings of a class action alleging superannuation customers were overcharged for insurance coverage.
A judge overseeing an appeal in a carriage dispute in a class action against Jaguar Land Rover over allegedly defective diesel filters has said he prefers the approach of the Supreme Court of Victoria to such fights, saying firms should not revise their bids multiple times.
The applicant in a competition class action against AGL Energy has failed to find another funder to back the case after the original funder that bankrolled the case withdrew its support.
The High Court has refused special leave in a failed class action against Volkswagen over allegedly defective Takata airbags.
A judge has discontinued a class action by Victorian councils against insurer JLT Risk Solutions, but has departed from the decisions of two other judges by ruling the suspension of the time limit for bringing the councils' claims will immediately be lifted.
Awaiting judgment in Federal Court class actions by shareholders over its money laundering risk disclosures, the Commonwealth Bank will ask the court to reopen the case to consider the relevance of two recent decisions that found shareholders in other class actions had failed to prove loss.
Companies and government entities paid out less to settle class actions in 2023 than in the previous two years, with no mega settlements hitting their pocketbooks.
A judge has signed off on a class action settlement under which the Commonwealth Bank of Australia will pay a sum towards the applicant's costs but group members will recover nothing.