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CBA has attacked two failed class actions' "misguided" appeal, arguing that requiring companies to disclose incomplete information to shareholders would distort the market.
The Full Court has heard that a judge's finding on materiality in two failed shareholder class actions against CBA could have “troubling” repercussions for insider trading cases and must be overturned.
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.
The High Court has upheld appeals in class actions against Ford and Toyota over the calculation of damages for reduction in value of defective vehicles.
In a loss for Sky City Adelaide, the High Court has affirmed that electronic gaming credits should be taxed as revenue. putting it on the hook for an additional casino duty of $13.1 million.
The NSW appeals court has clarified the operation of the Uniform Law in the state, finding that insurers offering professional indemnity insurance to legal practitioners must be approved by the state's Attorney General.
In submissions to the High Court, the applicant in a class action brought on behalf of Arrium shareholders against KMPG has attacked the Attorney-General’s argument that a contingency fee order is a neutral factor in assessing the accounting firm’s bid to move the case from Victoria.
The NSW Supreme Court would have the power to deal with a contingency fee order made in a class action against KPMG if the accounting firm won its application to move the case from Victoria, making the existence of the order a neutral factor in the transfer bid, the federal Attorney-General has told the High Court.
Unanimously dismissing an appeal by thoroughbred breeding and horseracing giant Godolphin, the High Court has ruled on the proper construction of a tax exemption for rural land in NSW.
Supporting KPMG's bid to move a class action over the collapse of Arrium from Melboure to Sydney, former directors of the failed steel company have told the High Court the Victoria Supreme Court was impermissibly preferring the policy of its state in finding a contingency fee order made in the case could be factored into a transfer application.