An appeals court has dismissed a law firm’s challenge to a ruling that cut $1.14 million of its fees from a settled class action against retirement home operator Aveo, noting the “inordinate delay” in preparing key evidence. The class action, launched in September 2017 on behalf of residents at Aveo’s retirement villages, settled for $11…
The corporate watchdog has brought proceedings against the former director of collapsed cryptocurrency exchange platform Blockchain Global for alleged violations of his directors duties.
On the first day of a seven-week class action trial, a judge has heard that AMP Superannuation failed to renegotiate interest rates with AMP Bank for up to 12 years, despite investing as much as $2 billion in customers’ superannuation with the bank.
In explaining where CBA shareholders went wrong in proving damages from the bank’s omissions over an AUSTRAC probe, the Full Federal Court has given class action plaintiffs the clearest indication yet of how they might win.
The failure of two class actions to prove loss linked to the Commonwealth Bank’s disclosure breaches was not the fault of the bank, an appeals court has held in dealing the latest blow to shareholder group proceedings.
Two class actions against Commonwealth Bank have partially succeeded on appeal, with a finding that the bank breached its continuous disclosure obligations, but damages still elude shareholders.
Court approval of a $50 million settlement in a class action against ANZ and superannuation trustee OnePath has been delayed, after 22,000 group members were excluded from an opt-out notice due to a problem with OnePath’s computing process.
The Full Court has granted a cross-appeal by crypto currency provider Block Earner, finding its did not need a financial services licence because its crypto product is not a financial product.
Russian company UC Rusal wants the High Court to hear its appeal of an “extremely harsh” finding that Rio Tinto was entitled to refuse alumina deliveries due to export sanctions.
The Full Court has heard that a judge’s finding on materiality in two failed shareholder class actions against CBA could have “troubling” repercussions for insider trading cases and must be overturned.