The CDPP’s decision to drop all criminal cartel charges against two banks and four individuals in a “test case” over a $2.5 billion ANZ share placement shows the ACCC “lacks expertise and objectivity” on the financial markets and should leave them to ASIC to regulate, according to one of the former accused.
In a stunning reversal, the Commonwealth Director of Public Prosecution has dropped all criminal cartel charges against two investment banks and four individuals in relation to a $2.5 billion ANZ share placement, four years after the charges were brought following an allegedly questionable investigation by the ACCC.
AMP has expressed optimism that it will be able to reach a settlement with DST Bluedoor in a $35.5 million lawsuit accusing it of poaching 11 DST employees after licensing the software company’s online platform.
A court has ordered the winding up of investment manager PE Capital Funds Management, whose responsible entity Endeavour Securities has connections to collapsed financial services company Linchpin Capital.
Forum Finance director Vince Tesoriero has lost a battle to stop receivers from selling luxury properties in which he and Bill Papas hold a stake pending the outcome of Westpac’s fraud case against him.
The parties in a class action accusing a Commonwealth Bank of Australia unit of breaching its superannuation trustee duties want the matter to be heard in person and are willing to foot the bill for the judge to travel to Sydney to make it happen.
The Fair Work Commission has upheld the dismissal of a long-serving Westpac manager who touched a colleague “in an intimate manner” at an after-work drinks, warning that such behaviour will be judged against higher standards than in the past.
The corporate watchdog has been subpoenaed for its investigation files in the latest development in a protracted discovery fight in a shareholder class action over alleged misconduct by wealth manager IOOF.
Australian Mercedes-Benz dealers behind a $650 million lawsuit over the car maker’s decision to move to a fixed-price agency model allege the car maker engaged Deloitte as a consultant so it could “spin” its real reasons for making the change.
Shareholders in a class action against failed steel giant Arrium and KPMG have lost their bid for KPMG’s complete audit file for Arrium to probe the Big Four accounting firm’s handling of the steel producer’s financial statements before its collapse in April 2016.