US asset management firm State Street has dropped its trade mark claims against a second superannuation fund over its iconic Fearless Girl statue, leaving law firm Maurice Blackburn as the lone defendant as a November trial date approaches.
The ACCC will immediately commence a wide-ranging homes loans inquiry at the direction of the Federal Government, including an investigation into the banking sector’s refusal to pass on interest rate cuts to consumers in full.
The High Court has shut down a lawsuit by mortgage aggregator Connective Services over the transfer of one third of the company’s shares after finding the proceeding prejudiced shareholders and contravened the Corporations Act.
Three former directors of billion-dollar financial advisory firm Linchpin Capital Group will face two days of questioning in examination proceedings filed on behalf of an investor five months after the company was wound up for running an unregistered investment scheme and misleading investors.
Ernst & Young, which is facing a lawsuit brought by the receiver of a fund overseen by failed financial services firm LM Investment Management, has lost its bid to file a claim for damages against LMIM, with a judge saying the auditor’s case was “flawed” and “counterintuitive”.
ANZ has announced it will set aside an additional $485 million to remediate customers affected by its fees and interest calculations, just days after NAB told shareholders it would set aside a further $1.18 billion to compensate customers affected by dodgy fees and advice.
After being flooded with phone calls by class members wanting a share of a recent $16.4 million settlement with Cash Converters, law firm Maurice Blackburn will implement an automated message system to handle queries from 164,000 group members in the settled class action against Radio Rentals.
A challenge by Quinn Emanuel to a NSW Supreme Court decision staying its shareholder class action against AMP has been unanimously dismissed by the Court of Appeal, which found the class action beauty contest was not decided in error and that subsequently filed representative proceedings were not an abuse of process.
The Suncorp Group unit and directors at the centre of a class action over allegedly conflicted remuneration have slammed the case as “misconceived” and argue it was not validly commenced.
Westpac has offered an appeals court two more reasons to affirm its victory in a closely watched responsible lending case brought by the Australian Securities and Investments Commission over almost 262,000 home loans.