Westpac has argued that ASIC should flesh out its case accusing the banking giant of insider trading before the $16 billion privatisation of electricity provider Ausgrid, saying the regulator has not explained the nature of the alleged inside information.
Homeowners in a Western Sydney suburb have filed a NSW Supreme Court class action against the local council, a developer and geotechnical engineers seeking compensation over homes they claim are sinking into the ground.
Kia Motors is facing an investigation into a possible class action on behalf of car owners whose vehicles were recalled due to the risk that they could catch fire when parked.
Crown’s former legal boss threatened to call the federal gaming minister after Victoria’s gaming watchdog pushed the company to implement stronger anti-money laundering controls on junket players, the royal commission into Crown Melbourne has heard.
The cash-strapped litigation funder that initially agreed to bankroll a class action against Westpac over life insurance premiums will not earn a cent in commission under a proposed $30 million settlement.
A class action trial against Volkswagen over recalled Takata airbags has kicked off, with a lawyer for the car giant denying the airbags carried a safety risk and attacking as “quite absurd” the sought-after damages of 30 percent of the initial price tag of affected cars.
In a victory for gig economy workers, the Fair Work Commission has found that a Deliveroo driver who was sacked for not working fast enough was an employee, saying the company’s power to exert control over its workers with data collected through its app weighed in favour of a finding of that employer-employee relationship existed.
The Australian Securities and Investments Commission has fined Regional Express Holdings $66,000 after finding there were reasonable grounds to believe the airline violated it continuous disclosure obligations by telling a journalist, but not shareholders, about its potential plans to launch domestic operations.
The former chief financial officer of delisted Traditional Therapy Clinics has been sentenced to one year and ten months in prison after pleading guilty to market manipulation charges relating to transactions intended to create an artificial share price for the traditional therapy clinic company.
A “belligerent” Crown Melbourne lied to investigators probing the arrests of 19 of its China-based staff, and the casino operator could face charges of contempt for failing to respond to demands for documents by the gaming watchdog, an inquiry has been told.