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A judge has rejected a request to discontinue a class action on behalf of investors in failed music streaming platform Guvera, saying it was “difficult to understand” why the applicants had launched the case as a class action in the first place.
The Federal Court has slugged wealth management firm Colonial First State Investments with a $20 million penalty for misleading almost 13,000 superannuation members about their MySuper entitlements through a "concerted campaign" that lasted two years.
Software company DST Bluedoor has lost its bid to access communications between its former founding director and AMP in a $35.5 million lawsuit accusing the financial services company of inducing 11 DST employees to jump ship after licensing its online platform.
A challenge to the ACCC's approval of the merger of major payment platforms BPAY, Eftpos and New Payments Platform Australia has been challenged by a Sydney-based fintech, which has accused NPPA of patent infringement.
The Commonwealth Bank’s wealth management unit has agreed to cough up $20 million in penalties for misleading thousands of fund members during the transition to MySuper accounts, but steadfastly maintains its conduct was not part of a “nefarious” plot for profits.
Five enforcement officers of the Australian Competition and Consumer Commission will be cross-examined by lawyers for banks facing price fixing charges over their conduct following ANZ's $2.5 billion capital raising six years ago.
The Australian Securities and Investments Commission has cancelled the licence of embattled former accountant Vanda Gould.
A former financial planner found to have engaged in a data breach at National Australia Bank will have her adverse action lawsuit against the bank partially reheard after an appeals court found the judge who tossed the case failed to properly consider why she was fired.
Lawyers running the scandal-ridden Banksia class action have been struck from the roll of practitioners, will face criminal investigation and must pay group members $11.7 million in damages.
A judge overseeing a cartel case over a $2.5 billion ANZ share placement has granted ANZ's bid for unredacted documents which the bank says will support its claims that the case should be permanently stayed because of improper dealings between whistleblower JPMorgan, ASIC and the ACCC.