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CBA shareholder class actions score partial win on appeal, but no damages
Class Actions 2025-05-07 5:25 pm By Cindy Cameronne

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.

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Tech error affecting 22K group members delays $50M ANZ class action settlement
Class Actions 2025-04-23 10:59 pm By Andy Sidler

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.

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In loss for ASIC, Full Court finds crypto currency provider did not need AFSL
Appeals 2025-04-23 11:24 pm By Sam Matthews

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.

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Russian aluminium giant appeals Rio Tinto war sanctions case to High Court
Energy & Natural Resources 2025-01-13 11:54 pm By Andy Sidler

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.

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Judgment in CBA class actions could affect insider trading cases, Full Court told
Class Actions 2024-11-19 11:42 pm By Sam Matthews

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.

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CBA class action judge used ‘far too onerous’ test, appeals court told
Class Actions 2024-11-18 11:38 pm By Cindy Cameronne

Two failed class actions against CBA claim a judge used a “far too onerous test” for materiality in deciding whether the bank should have told the market about deficiencies in its anti-money laundering systems. 

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Class action in Hong Kong against Forex trader could complicate Aussie case, court told
Class Actions 2024-11-15 3:26 pm By Andy Sidler

A concurrent group proceeding in Hong Kong could complicate an Australian class action against Perth-based forex trader Best Leader Markets Pty Ltd.

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Rio Tinto defeats appeal by Russian aluminium producer over war sanctions
Energy & Natural Resources 2024-11-11 11:40 pm By Andy Sidler

An appeals court has backed a decision by six Rio Tinto units to refuse delivery of alumina to Russia’s largest aluminium producer because it would run afoul of sanctions imposed after Russia invaded Ukraine.

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Court stays Clive Palmer’s challenge to ASIC examination
ASIC 2024-10-09 11:45 pm By Sam Matthews

The CDPP and ASIC have succeeded in staying Clive Palmer’s case challenging the lawfulness of a seven-year-old examination, with a judge finding it would fragment criminal cases against the mining magnate.

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ANZ, OnePath to pay $50M in super class action settlement
Settlement 2024-10-03 11:19 pm By Christine Caulfield

Big Four bank ANZ and superannuation trustee OnePath will pay $50 million to settle a class action brought on behalf of super members allegedly charged excessive fees.

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