Auditor KPMG has hit back at a shareholder class action over water treatment business Phoslock’s alleged accounting irregularities, saying it should be completely relieved from paying damages since it acted honestly.
ASIC has opposed a bid by online investment platform eToro to rely on late expert evidence in the regulator’s first-ever action alleging breach of obligations in designing and selling financial products over high-risk contracts for difference.
The former chairman of BBY has been charged with aiding and abetting dishonest conduct while head of the board at the defunct stockbroking firm.
A former director of collapsed Melbourne derivatives broker Berndale Capital Securities will spend a year in jail after pleading guilty to offences connected to his misuse of company funds.
Payday lenders BSF Solutions and Cigno have lost an appeal in action by ASIC alleging they engaged in unlicensed credit activity and charged prohibited fees, in the case’s second run up to the Full Federal Court.
A Grant Thornton partner has been admonished for failing to properly review the firm’s audit of the 2018 financial statements of delisted fintech iSignthis, in a promising turn for a recently filed class action.
Two financial advisers who allegedly recommended a failed fund linked to Keystone Asset Management have been disqualified by the corporate cop.
In the third decision approving an unaltered group costs order at the resolution of a class action, a judge has OK’d an $85 million settlement by ANZ, representing a $21 million payday for Maurice Blackburn.
AMP is facing a new class action alleging certain superannuation fund members were hit with inflated premiums over a five-year period, after arguing a similar matter was “in search of a case” more than four years after being filed.
Mastercard has pushed back on the ACCC’s argument that it waived privilege over communications with lawyers, saying it would “take the law of waiver to a place it has never been before”.