CBA

Engineering services firm Worley might win the High Court's leave to appeal its loss in a shareholder class action despite the justices delving into many of the same issues raised in cases against the Commonwealth Bank, experts tell Lawyerly.

The lead shareholder in class actions against CBA has urged the High Court to take a "common sense" approach to loss causation in securities cases, as endorsed by the Full Federal Court in last month's ruling for Worley's investors.

The Commonwealth Bank wants Cornwalls to pay its costs in a negligence case by a former client, saying the law firm should foot the bill for claiming proportionate liability against the bank.

The Commonwealth Bank has urged the High Court to uphold a ruling rejecting shareholders' damages claims in two class actions, saying the decision correctly rejected their "conflation of materiality with loss".

Boral wants a judge to wait until the High Court delivers a judgment in cases against CBA before issuing his decision in shareholder class actions against the building materials giant. But the applicant says the court can’t wait for “perfect clarification” of the law.

A sacked property finance executive at CBA, who told an unnamed person in the workplace to “calm the f*** down”, has denied his conduct amounted to bullying, claiming swearing was common among his colleagues. 

The Commonwealth Bank has paid $792,000 in penalties after the consumer watchdog found it had failed to enable data sharing for certain business customers. 

Commonwealth Bank's New Zealand unit, ASB Bank, has agreed to pay $119.35 million to settle a class action alleging it failed to repay fees and interest wrongly charged to 150,000 customers who took out home or personal loans.

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”.