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CBA plans to file a cross-appeal in the class actions before the High Court, contending the shareholders -- who argue they should have won their loss case -- failed to establish disclosure breaches at the threshold.
BHP and Rio Tinto have told a court that the claims of thousands of women who allegedly experienced workplace sexual harassment and discrimination should not be brought as class actions.
Saying the appeals court committed "fundamental errors" in approaching their claim of loss, the applicants in failed cases against the Commonwealth Bank have appealed to the High Court, in a case that could clarity the elusive test for damages in shareholder class actions.
Two failed shareholder class actions against Commonwealth Bank have been returned to a judge to decide if 'no transaction' claims can still be pursued, a move CBA argues is a way to keep alive cases that are “truly dead”.
Following the failure of two class actions to prove market-based loss from the Commonwealth Bank’s disclosure breaches, the bank is fighting the class actions' bid to pursue individual ‘no transaction’ cases, saying they were “trying to keep something alive that is truly dead”.
ASIC has opposed a bid by online investment platform eToro to rely on late expert evidence in the regulator’s first-ever action alleging breach of obligations in designing and selling financial products over high-risk contracts for difference.
Insurer Marsh has fired off a cross-claim against Swiss bank UBS in several cases brought over Greensill’s $1.7 billion collapse.
In explaining where CBA shareholders went wrong in proving damages from the bank's omissions over an AUSTRAC probe, the Full Federal Court has given class action plaintiffs the clearest indication yet of how they might win.
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.
The failure of two class actions to prove loss linked to the Commonwealth Bank's disclosure breaches was not the fault of the bank, an appeals court has held in dealing the latest blow to shareholder group proceedings.