Investors who entrusted their retirement savings to deceased fraudster Melissa Caddick may launch a class action against the auditors that signed off on financial statements for the funds.
Westpac has shot back at a lawsuit brought by ASIC over the selling of alleged poor value insurance products, with the bank saying its customers had agreed to take out the “optional” coverage.
A judge has gutted a defence and counterclaim filed by the biggest unitholder in investment fund Vale in a battle with a litigation funder and liquidators over agreements to join two class actions against S&P Capital, a fight that threatened to hold up one of the class actions.
Criminal charges have been laid against the auditor of stockbroker Halifax Investment Services, whose 2008 collapse left around $200 million in client funds trapped, in the first criminal charges brought over auditing services in Australia.
AUSTRAC’s long-running investigation into NAB’s compliance with anti-money laundering and counter-terrorism financing laws has progressed, with the matter being referred to the financial crime regulator’s enforcement team.
A judge has extended an injunction barring a former manager of non-bank lender Liberty Financial from working for a unit of Wingate Group until after trial in a case over a restraint clause in the executive’s contract.
A Victoria Supreme Court judge weighing for the first time an application by a law firm for a percentage cut of recoveries in class actions has been told to reject the bid because group members would fare better under the firm’s current no win, no fee funding arrangement.
Payments provider Tyro is facing two potential class actions over a days-long terminal outage that left many businesses unable to accept payments, the first of which is expected to be filed “imminently”.
The judge overseeing a conflicted remuneration class action against Suncorp has locked in a trial date for May next year over the protests of the applicants, saying it was “not a good look” for class actions to “hang” around.
JPMorgan is fighting to keep details of failed settlement talks with ASIC under wraps in criminal cartel proceedings over a $2.5 billion ANZ share placement, as ANZ seeks to uncover whether the corporate regulator made a deal with the investment bank ahead of the cartel case being filed.