Banking giant Westpac has settled an investor class action brought by Levitt Robinson for its alleged role in an unregistered managed investment scheme.
Slater and Gordon is looking to significantly expand its class action against National Australia Bank over the sale of “worthless” credit card insurance to include personal loan customers who were sold allegedly unsuitable insurance policies.
The Australian Securities and Investments Commission is pushing back against an application by ANZ Bank to stay the regulator’s civil penalties case over disclosures related to a $2.5 billion equity capital raising while it defends against criminal charges related to the controversial share placement.
After a first failed attempt, two class actions against 7-Eleven are trying again to restrict communications between the convenience store giant and franchisees ahead of a settlement approval hearing with ANZ, the bank that loaned money to store owners.
Piper Alderman has urged a judge to excuse its “obviously accidental” breach of legal profession costs regulations in its Discovery Metals investor class action against KPMG, warning that group members could suffer detriment if its $3.5 million legal bill was not approved quickly.
The liquidators of Gold Coast fund manager Equititrust are seeking court approval of a confidential settlement of two proceedings brought against KPMG for allegedly failing to properly audit the firm prior to its collapse.
A judge has questioned whether he should approve the $3 million legal bill in the settled Discovery Metals shareholder class action against KPMG, amid concerns the plaintiff’s lawyers, Piper Alderman, breached legal profession regulations by failing to update their estimated costs.
A judge has signed off on the confidential settlement of a shareholder class action brought against KPMG relating to the failed $830 million hostile takeover of mining firm Discovery Metals, despite objections that the settlement process was “unfair and unjust”.
ANZ has recruited seasoned class actions lawyer Ken Adams to be its next group general counsel as the bank faces two cases over a botched share placement and braces for the possibility of more litigation in the wake of the Banking Royal Commission.
Facebook and Instagram will defend against claims they misused their market power to block an Australian marketing startup from their platforms, saying the company – which sends scheduled social media posts for clients — had breached their terms of use.