King & Wood Mallesons has settled a lawsuit by defunct stockbroker Halifax Investment Services alleging the firm and former auditor Bentleys failed to advise that it had to hold client funds used to trade on its online platform on trust.
A third law firm has filed a class action against International Capital Markets, after failing to reach an agreement on joining forces with two other firms that have agreed to consolidate their competing class actions against the Sydney broker over risky contracts for difference.
Blue Sky’s founder and former managing director Mark Sowerby has won orders requiring a director of US hedge fund Glaucus to produce documents relating to claims the short-seller shared information with market participants before releasing a report which sent Blue Sky’s shares into a tailspin.
A former lead partner in cybersecurity has sued Ernst & Young for expelling him after he was accused of threatening employees and mistreating female staff, saying the firm “ambushed” him and subjected him to “excessive” punishment.
A carriage fight may be avoided in a class action against Sydney broker International Capital Markets over risky contracts for difference after two law firms agreed to consolidate their cases.
National Australia Bank has resolved trade mark proceedings brought against US budgeting app You Need A Budget, alleging the YNAB app, which helps users manage their finances, steps on its well-known trade mark and will confuse Australians.
Mortgage broker Lendi Group and insurer ALI Group face a class action over the sale of allegedly worthless mortgage insurance policies to homeowners.
The competition regulator will not appeal a tribunal ruling that set aside its decision to block the $4.9 billion merger between ANZ and Suncorp, but promised it will continue to scrutinise the banking industry.
Afterpay has failed to block fintech iSignthis from registering ‘Clearpay’ as a trade mark for its blockchain-based trading system, with an IP Australia delegate finding Afterpay had failed to prove it used ‘Clearpay’ for its buy now, pay later services outside of the UK.
The Australian Securities and Investments Commission has won sequestration orders against Gold Coast ‘finfluencer’ Tyson Scholz after he failed to pay the regulator’s costs in proceedings that resulted in him being permanently barred from carrying on a unlicensed financial services business.