The Commonwealth Bank of Australia has offered $9.3 million since 2014 to customers that suffered loss when advisers in two of its financial planning units put their money into high-risk investments without their permission.
Charges in the criminal cartel case against ANZ, Citigroup and Deutsche Bank over a $2.5 billion ANZ institutional share placement have yet to be finalised, almost a year after the proceeding was filed.
ANZ Bank executives briefly considered relaunching and repricing a botched $2.5 billion equity capital raising at the heart of two groundbreaking enforcement actions, and the decision by the share placement’s underwriters to instead pick up a $790 million shortfall deprived investors of lower priced shares, a court has been told.
The Commonwealth Bank has been hit with a lawsuit by a former general manager who claims his retrenchment in 2013 violated the whistleblower protections under the Corporations Act.
An argument over the admissibility of an expert report produced by the Australian Securities and Investments Commission in its insurance churn case against AMP was sidestepped Monday, with a judge proposing experts from both sides instead file a joint report in the case.
A judge who entertained an anti-suit injunction in the AMP class action jurisdictional battle that set off what another judge called an “unseemly debacle” has ordered the applicant behind the injunction bid to pay costs.
A settlement has been reached in a class action against KPMG alleging it providing a misleading expert report to copper miner Discovery Metals that was used to reject a $830 million hostile takeover bid.
The trustee of the Retail Employees Superannuation Trust wants more details about an ecological landscaper’s allegation that it breached its duty of care by failing to make adequate disclosures about climate change risks.
Macquarie Bank has been hit with yet another lawsuit by a group of financial advisers alleging the firm breached the Fair Work Act by denying them regular wages, a case filed just days before the bank resolved an earlier action.
The Full Court has denied a bid by Deep Investments to vary orders dismissing its case against a solicitor and six others over $10 million in alleged share trading losses, saying this would amount to allowing the investment adviser to bring a different claim.