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Sydney-based online broker International Capital Markets is facing a class action by inexperienced investors who allegedly lost $500 million in trading risky contracts for difference.
A protracted class action against the Commonwealth Bank of Australia brought by borrowers who claimed they were forced to default on their commercial loans has finally settled, a court has heard.
AMP has agreed to pay $100 million to settle a class action by financial advisers over its buyer of last resort policy, after suffering a loss at trial.
A judge has reluctantly granted extensions in a class action over QSuper’s alleged failure to notify members of changes to its premiums, saying the delay in the two-year old case was "very disappointing".
The High Court has denied a bid for special leave by the Commonwealth Bank and other lenders to challenge a ruling that found two Arrium directors did not mislead them about loan drawdown notices ahead of the steel company's $2.8 billion collapse.
EFTPOS provider Tyro has won a year-long injunction against an authorised representative that pushed competing payment system Lightspeed on its customers, in breach of a restraint of trade clause in their contract.
The Australian Securities and Investments Commission has lost its bid to temporarily restrain payday lenders Cigno and BSF Solutions from enforcing loan fees against 7,000 customers, with a judge finding an injunction could destroy their businesses.
The judge overseeing a class action against collapsed investment manager Blue Sky has said he would not be inclined to seek clarity from the Full Court on whether the court has the power to make a solicitors common fund order unless one of the defendants raised a challenge.
A judge has signed off on a $110 million settlement in a long-running shareholder class action against AMP over its fees-for-no-service conduct, including $26 million in costs for law firm Maurice Blackburn.