Three former Macquarie Bank financial advisors who claim the bank underpaid them have successfully appealed a decision ordering them to hand over personal tax assessments, with an appeals court finding that the most the bank could make of the documents was to “inflict a degree of embarrassment” on its ex-employees.
Commonwealth Bank of Australia has resolved a lawsuit brought by a former general manager alleging he lost his job for blowing the whistle on a system allegedly used by staff to inflate their bonuses.
Common fund orders are again under scrutiny in a class action which was at the centre of the High Court’s decision to strike down the orders, with a NSW Supreme Court judge sending back to the appeals court the question of whether the orders can be made at settlement.
The director of besieged investment group Mayfair 101 has called for an investigation into the Australian Securities and Investments Commission, calling a winding up proceeding brought by the financial watchdog “a form of malicious prosecution” based on a “flawed fundamental misunderstanding” and supported by an erroneous report from auditor Deloitte.
GetSwift has promised the Federal Court that it will inform the lead applicant in a shareholder class action if any of its assets are to be transferred outside of Australia, after the applicant raised concerns about the logistics company’s proposed relocation to Canada.
Ernst & Young is facing a claim for $12 million damages in a lawsuit over its auditing of collapsed soda ash maker Penrice.
A landmark judgment by the Full Federal Court has found that a full bench of the Fair Work Commission “misconstrued” its own authority to make general protections findings about the dismissal of employees.
John Karantzis, the CEO of fintech company iSignthis, has launched defamation proceedings against Fairfax, targeting an Australian Financial Review article over the 900 per cent share price jump in Etherstack, a wireless radio tech company in which Karantzis owns shares.
Facebook’s argument that it can’t be sued by the privacy commissioner in Australia has fallen flat, with a judge rejecting the social media giant’s application to dismiss enforcement action brought in March over the disclosure of users’ personal data.
The Australian Securities and and Investments Commission has won a $57.5 million judgment against two units of National Australia Bank for making misleading representations to superannuation customers regarding $100 million in fees charged for services they never received, far short of the $125 million sought by the corporate regulator.