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.
ANZ has lost its appeal of a landmark decision finding it breached continuous disclosure rules by failing to disclose a $750 million bailout by underwriters during a $2.5 billion capital raising.
A settlement has been reached on the eve of trial in a class action against ANZ and OnePath alleging they slugged super fund members with excessive fees.
The ex-chair of former ANZ unit OnePath “has not been cooperating” in a class action alleging it breached its duties as a trustee of superannuation funds by slugging members with excessive fees to pay commissions to financial advisers, a court has heard.
A judge has warned two law firms competing to run a class action against IC Markets over risky contracts-for-difference that it will be held against them if they take a “holding position” on their funding proposals and attempt to negotiate their bids down later.
The liquidators of collapsed engineering company Hastie Group have lost their bid to appeal a decision that knocked out half its $120 million case against Multiplex, Lendlease and numerous other builders.
Challenging a ruling that it breached its continuous disclosure obligations, ANZ has argued on appeal that it did not need to inform the ASX of a bailout by the underwriters of a 2015 institutional share placement because the information didn’t go to the fundamental value of its shares.
A class action against ANZ and former subsidiary OnePath has been given the green light to “significantly expand” its case against the big four bank, over three years after the case was first filed.
A Perth-based forex trader that allegedly failed to return investors’ funds or any profits made on trading has taken no steps in the undefended class action, a court has heard.
A Kurdish refugee has lost his appeal seeking compensation for being kept in makeshift hotel detention centres for 14 months after a judge found the detention lacked “human decency” but was not unlawful.