A class action brought on behalf of sovereign bond investors over the disclosure of climate change risks has settled with the government on terms that don’t preclude further proceedings, a court has heard.
The ACCC has rejected ANZ’s $4.9 billion acquisition of Queensland-based Suncorp, setting up a likely challenge before the Australian Competition Tribunal.
A judge asked to approve a $50 million settlement in a consumer credit insurance class action against the Commonwealth Bank has questioned a $2.5 million deduction for professional services firm Deloitte.
ASIC is seeking penalties against Dixon Advisory & Superannuation Services director Paul Ryan for allegedly failing to consider clients when executing a deed that affected the financial advice firm’s ability to recoup a $19 million debt from its holding company.
The Australian Securities and Investments Commission has filed its first action alleging breach of obligations in designing and selling financial products, accusing online investment platform eToro of inappropriately exposing clients to high risk CFDs.
ANZ’s $47 million settlement of a class action over its consumer credit insurance has been given the nod by a judge, who has also approved recovery of the cost of after-the-event insurance held by the law firm running the case.
The judge overseeing the receivership of Melissa Caddick’s estate has pushed off a dispute about a collection of sneakers held by the deceased fraudster’s teenaged son, including one pair that could be worth up to $12,000.
The son of the architect of the Banksia class action fraud has been struck from the roll of lawyers by a Supreme Court of Victoria judge, who on Monday also approved a settlement with companies linked to the disgraced senior counsel for the case.
The Australian Securities and Investments Commission has told a trial judge that superannuation trustee Diversa can’t hide behind outsourcing arrangements to explain its alleged failures to oversee a now-banned financial adviser accused of luring vulnerable customers into signing up to Diversa accounts.
Auditor Ernst & Young has filed cross-claims against Blue Sky in a shareholder class action accusing the collapsed investment firm of misleading shareholders by misstating its assets under management.