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AMP has prevailed in a hard-fought fight over where it will defend five shareholder class actions brought in the wake of the Banking Royal Commission, in a precedent-setting judgement that provides a road map for future jurisdictional battles over competing class actions.
The judge overseeing the competition lawsuit brought by the ACCC over Aurizon's proposed sale of its Queensland intermodal business to Pacific National has denied the regulator's bid for an injunction against Pacific, saying it amounted to micro-managing that could discourage "normal competitive behaviour".
Embattled financial giant AMP on Tuesday criticised concerns raised by lawyers for the federal class actions about group members' opt out rights, saying the concerns were a "red herring" in the fight against an order transferring their cases to the NSW Supreme Court.
The ACCC has won its request for an injunction blocking rail freight operator Aurizon from shutting its intermodal business down while a competition lawsuit the regulator filed over Aurizon's proposed sale of the business to Pacific National makes its way through the court.
Murray Goulburn's ex-CFO Bradley Hingle has quietly settled a case brought by the consumer watchdog over the dairy co-operative's allegedly misleading promises about farmgate milk prices, with the former executive agreeing to stay away from the dairy industry for three years.
The Full Federal Court expressed doubts Tuesday about an "unusual" and "heavy handed" order restraining lawyers leading the stayed class actions against GetSwift from advising their clients about whether to opt out of the prevailing action.
The corporate watchdog can't get its hands on documents detailing Westpac's disciplinary measures against rogue traders or communications between the employees ahead of a penalty hearing in a case that found the bank attempted to influence the Bank Bill Swap Rate.
The judge overseeing the GetSwift class action proceedings was bent on picking a winner from the outset and should be removed from the case for rehearing, a barrister for one of the losing law firms told the Full Federal Court Monday.
The litigation funder underwriting a class action against Myer will have to fork over another $950,000 in security ahead of what will be a rare shareholder trial starting next Wednesday, a court has ruled.
A judge has denied ASIC's bid to appoint an interim receiver to preserve the assets of three financial services companies that advised clients to invest in complex derivatives, which ASIC is seeking to have wound up for alleged violations of the Corporations Act.