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CBA has attacked two failed class actions' "misguided" appeal, arguing that requiring companies to disclose incomplete information to shareholders would distort the market.
The Full Court has heard that a judge's finding on materiality in two failed shareholder class actions against CBA could have “troubling” repercussions for insider trading cases and must be overturned.
The trustees of super fund HESTA have agreed to make payments to two groups of members impacted by valuation decisions made at the start of the COVID-19 pandemic.
Insurer Marsh has wasted no time in appealing a ruling that it breached an obligation not to use documents discovered in litigation over the $7 billion collapse of Greensill in separate proceedings.
Two failed class actions against CBA claim a judge used a “far too onerous test” for materiality in deciding whether the bank should have told the market about deficiencies in its anti-money laundering systems.
The corporate watchdog is suing the second Big Four bank in two months, alleging NAB mishandled hundreds of hardship applications from vulnerable customers.
A senate committee has recommended that rules requiring that lawyers comply with anti-money laundering obligations should not apply to barristers acting on instructions from solicitors.
A concurrent group proceeding in Hong Kong could complicate an Australian class action against Perth-based forex trader Best Leader Markets Pty Ltd.
A former director of investment firm Keystone, who is suspected by the corporate regulator of misusing millions in investor funds, has flagged a potential bid to keep his silence in a case by court-appointed receivers.
In the second test of the new design and distribution obligations under the Corporations Act, ASIC is seeking a $20 million penalty against the provider of the Kraken crypto exchange.