Companies

A US-based plaintiffs firm is planning a class action against Westpac alleging it failed to alert investors to significant lapses in its anti-money laundering and counter-terrorism finance compliance, which led to a bombshell lawsuit by AUSTRAC last year.

A former Adelaide financial advisor that worked for a subsidiary of National Australia Bank has lost his bid for a temporary stay of a five-year ban for allegedly recommending that clients invest in failed fintech start-up Bux Global, after arguing the bad publicity could negatively affect the impending sale of his business.

A judge is expected to issue a temporary injunction Thursday barring Facebook and Instagram from blocking users who are customers of a Melbourne-based social media startup that has accused the companies of trying to quash competition.

A year after Commissioner Kenneth Hayne released his scathing report, companies in the financial services sector are still facing fresh class actions over conduct aired at the banking royal commission, and the pace has even picked up in recent months.

The owner of a Melbourne-based dermatology clinic has come out on top in a battle with Johnson & Johnson over a trade mark for creams and cosmetic products.

Crown Resorts has successfully challenged a ruling allowing law firm Maurice Blackburn to communicate with 18 formerly jailed employees to gather evidence in its shareholder class action against the casino giant.

Two National Australia Bank units have been hit with a class action alleging they violated their duties as superannuation trustees by allegedly failing to transfer members to funds with lower fees.

A subsidiary of mining giant Glencore has defeated a case brought by the CFMEU claiming it was obligated to pay unlimited amounts of personal leave to sick or injured employees.

Ashurst has become the latest law firm to be ensnared in the underpayments scandal affecting Australian businesses, with the firm admitting to underpaying a number of staff covered under the legal services award.

Litigation funder IMF Bentham has shrugged off concerns about the High Court's recent ruling on common fund orders, telling investors that it's in a position to take over some class actions from funders daunted by the prospect of bookbuilding.