The Commonwealth Bank will plead guilty to criminal charges following an ASIC investigation over misleading representations to customers who purchased add-on consumer credit insurance.
EY has reached an in-principle settlement in a case brought by Melbourne-based joint venture Shepparton Partners Collective alleging the consulting giant was negligent, but the firm copped a dressing down from a judge on Thursday for asking him to keep its motion to toss the case on ice.
Federal environment minister Sussan Ley has approved a controversial coal mining project that is expected to release 100 million tonnes of carbon dioxide into the Earth’s atmosphere, despite a landmark ruling that the government has a duty of care to consider the impact of fossil fuel projects on the next generation of Australians.
Insurance broker JLT Risk Solutions has opposed an application by a group of NSW councils to add misleading and deceptive conduct allegations to a long-running class action, claiming the changes would force the vacation of a five-week trial due to start in October.
The ACCC has called for further public submissions on a proposed acquisition by JBS Australia of a Singapore-owned pig farm and abattoir business after it raised preliminary competition concerns with the $175 million sale.
The former lead auditor of stockbroker Halifax Investment Services, whose 2018 collapse resulted in $200 million in investor losses, has had his registration cancelled following an application by the Australian Securities and Investments Commission.
Six of the world’s largest car makers have agreed to pay $52 million to settle class actions accusing them of selling cars with deadly Takata airbags.
A judge has signed off on a proposal by two law firms to jointly run a consolidated class action against Allianz over add-on car insurance, shooting down the insurer’s argument that a beauty contest would promote competitive contingency fee rates.
Boral has denied that shareholders bringing two class actions against it over financial irregularities in its North America windows business suffered any loss, saying that its systems helped spot and prevent the financial manipulation from continuing.
Members Equity Bank faces a potential multi-million dollar fine if it is found guilty of misleading home loan customers in the first criminal prosecution under the consumer protection provision of the ASIC Act to be tried in the Federal Court.