CBA

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”.

A solicitor for a contractor in dispute with the Commonwealth Bank has been called out by a judge for a unilateral email to chambers without CBA's consent.

The Finance Sector Union has taken Commonwealth Bank to the Fair Work Commission over the alleged "sham redundancy” of over 100 positions it says are being offshored to India in breach of an enterprise agreement.

Clayton Utz has boosted the expertise in its risk advisory practice, hiring a trio of lawyers from CBA and A&O Shearman.

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.

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. 

Two class actions against Commonwealth Bank have partially succeeded on appeal, with a finding that the bank breached its continuous disclosure obligations, but damages still elude shareholders.

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.

CBA has attacked two failed class actions' "misguided" appeal, arguing that requiring companies to disclose incomplete information to shareholders would distort the market.