IG Markets could be hit with a second class action by investors seeking to claw back hundreds of millions of dollars allegedly lost in trading in over-the-counter derivative products known as contracts for difference.
A judge overseeing an investor class action over the collapse of advisory firm Linchpin Capital has questioned whether he has to “effectively second guess” a law firm’s advice given to group members about a partial settlement.
Commonwealth Bank and other lenders of failed steel giant Arrium have lost a second attempt to put two of the company’s directors on the hook for alleged misleading representations on loan drawdown notices ahead of its $2.8 billion collapse.
IG Markets has been hit with a class action on behalf of up to 20,000 everyday investors who have allegedly lost hundreds of millions of dollars trading in risky financial products known as contracts for difference, or CFDs.
Australian and New Zealand authorities have launched a joint investigation into the personal data handling practices of the Latitude group of companies, in the wake of a cyberattack that resulted in the theft of 14 million customer records.
A court has appointed a referee to examine whether a law firm’s communications with Golden Financial furthered a plan by the financial advisory firm to divert assets to minimise a penalty sought by the corporate regulator in the first case alleging a breach of the so-called best interest duty.
A judge has questioned an “unusual” bid by Noumi to shield over 3,000 documents, their titles and the identities of those who sent them to PricewaterhouseCoopers during a 2020 investigation into the food company’s financial position.
A former Courtenay House contractor and investment promoter is the latest to be sentenced to a term of imprisonment over an alleged $180 million Ponzi scheme, for which he netted $670,000 in commissions.
National Australia Bank has moved to set aside discovery requests in a suit by its former head of repo trading alleging she was bullied and paid less than other workers because of her gender.
A Melbourne investor who posted in an online forum that a pump and dump scheme was all part of the “fun and games and cat and mouse of the stock market” has been sentenced to two and half years imprisonment for market manipulation.