A judge has told a Colonial First State Investments unit to provide information about its financial position to the lead applicant in a class action and criticised the company for failing to disclose that it had transferred its liabilities after the class action was launched.
The applicant in a Federal Court class action against NAB superannuation trustee NULIS has been ordered to find a sample group member in light of a landmark Victoria Supreme Court ruling that found the plaintiff in a similar class action could not establish any loss.
The former senior counsel in a settled insurance class action against Westpac has had his fees reduced by $70,000 after the Federal Court heard some of the work for which he charged was not done in the interests of group members.
The lead applicants in a class action against two CBA units over allegedly excessive insurance premiums have been ordered to amend their pleadings to expand the group definition and add more detail to their claims.
AMP and a number of its financial planning subsidiaries have launched a bid to declass a group proceeding jointly run by Piper Alderman and Shine Lawyers over allegedly excessive insurance premiums.
Grant Thornton has won approval to a bring a cross-claim against Forge Group, just three months ahead of trial in the collapsed engineering company’s case against the accounting firm and ten former directors for their alleged negligence in relation to its “uneconomic” purchase of CTEC in 2012.
Two Commonwealth Bank of Australia subsidiaries have denied that they owed fiduciary duties to group members in a class action over allegedly excessive insurance premiums pushed onto customers because of commissions and other benefits to financial advisors.
Two special purpose liquidators appointed to collapsed engineering and construction company Forge Group are investigating a potential lawsuit against KPMG, which audited the doomed business prior to its $800 million collapse in 2014.
The Federal Court has approved a $14.6 million class action settlement with private training company Ashley Services, auditors Deloitte and Grant Thornton, and Holmes Management Group, with IMF Bentham set to pocket around $4.8 million for funding the litigation.