A class action against ANZ over alleged predatory lending practices has settled for $85 million, while two related cases against Westpac and Macquarie are set to go to trial this month.
A criminal case against a former financial adviser from Macquarie accused of trading in derivatives without a client’s authority has been dismissed.
Big Four bank ANZ and superannuation trustee OnePath will pay $50 million to settle a class action brought on behalf of super members allegedly charged excessive fees.
A court has tossed claims against ASIC by the former boss of investment fund Blue Sky, describing the allegations as scandalous and untenable.
A settlement has been reached on the eve of trial in a class action against ANZ and OnePath alleging they slugged super fund members with excessive fees.
Westpac’s shuttered home loan unit RAMS may hit back at franchisees’ class action claims by alleging they made misrepresentations and provided fraudulent documents.
Linchpin Capital liquidators have resolved their case against Grant Thornton and Moore Stephens, a year after a court found the evidence on its face established a claim against the auditors.
A class action over S&P’s rosy ratings on risky financial products faces a preliminary fight over the relevance of expert evidence that seeks to prove fraud on the part of the ratings agency.
Macquarie Bank has been fined a record $4.995 million for failing to stop the placement of suspicious orders on the electricity futures market.
The director of collapsed investment firm Linchpin Capital has lost his challenge to a $150,000 penalty, with an appeals court dismissing his arguments as “carping criticism”.