On the first day of a seven-week class action trial, a judge has heard that AMP Superannuation failed to renegotiate interest rates with AMP Bank for up to 12 years, despite investing as much as $2 billion in customers’ superannuation with the bank.
The former CEO of the Star was not responsible for every aspect of the business and instead played a “supervisory role”, a court has heard in ASIC’s case over the casino’s money laundering failures.
Star Entertainment’s management and board cannot shirk responsibility for turning a blind eye to money laundering risks by pointing the finger at each other, ASIC has told a court.
A class action against CMC Markets has won access to data thought to reveal that approximately 2,500 customers who failed screening tests for risky financial products were nevertheless permitted to trade.
An appeals court has rejected Keybridge CEO Nick Bolton’s challenge to a ruling that found that he and two other directors were validly removed at a board meeting, finding in favour of shareholder WAM Active.
A judge has been asked to approve a $64.25 million settlement in a class action against the trustees of the MLC Super Fund, hearing the settlement, reached just prior to the dismissal of a similar class action, was on the “higher end”.
Clorox has been hit with a $8.25 million penalty for representing to consumers that certain GLAD garbage bags were sourced from plastic fished from the ocean.
The High Court has agreed to hear an Australian fashion designer’s appeal in a long-running trade mark dispute with pop star Katy Perry.
Westpac is arguing timelines prepared by law firm Allens are privileged and should not be handed over in a shareholder class action over its alleged lax compliance with anti-money laundering laws.
Fitch Ratings has lost its bid for summary dismissal of claims in a class action over allegedly rosy ratings for risky derivative financial products issued 17 years ago on the basis that they are time-barred.