The Australian Securities and Investments Commission is investigating ANZ’s dealings in its role as risk manager of 10-year government treasury bonds worth $14 billion.
Collapsed construction and maintenance company General Trade Industries has lost its bid to revive abandoned claims against AGL in a nearly four-year old contract case over work on two Queensland gas plants, with a judge finding the company has had “more than a sufficient opportunity to plead its case”.
The funder behind two class actions against Uber, which have settled for $272 million, stands to make a tidy sum if the settlement holds up at a court approval hearing.
A former senior manager at Deloitte terminated for alleged inappropriate conduct in the workplace has lost her bid to bring an unfair dismissal claim out of time, despite the Fair Work Commission finding her case had merit.
The score in shareholder class actions taken to trial now stands at a dismal 0-5 after a judge tossed class actions against the Commonwealth Bank of Australia on Friday. But don’t expect funders to throw in the towel until the High Court or an intermediate appellate authority has its say, experts told Lawyerly.
Two class actions have failed to convince a judge that the Commonwealth Bank of Australia’s money laundering compliance failure which led to a $700 million penalty was “law breaking on a grand scale” that should have been disclosed to the market, the latest shareholder case to flop after being taken to trial.
Omni Bridgeway will book a smaller-than-expected loss from its investment in failed shareholder class actions against the Commonwealth Bank of Australia that it spent close to $10 million on, having curbed its exposure by selling a stake in the group proceedings.
Network Ten has largely succeeded in its bid for indemnity costs against Bruce Lehrmann for his failed defamation case over allegations he raped former colleague Brittany Higgins in Parliament House, allegations the broadcaster proved at trial were true.
The law firm behind a class action over cancelled Qantas flights has confirmed the case continues despite a $120 million settlement with the consumer regulator, and has called on the airline to follow through on its pledge to restore customers’ confidence.
A judge has refused to allow a female pilot to bring claims that Qantas engaged in sex discrimination because it had a culture that was “hostile to women”, saying that while the ‘vibe’ of a claim might suffice in the court of public opinion, it could not survive in a court of record.