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EY settles class action claims over Slater & Gordon audits
Class Actions 2022-05-26 10:49 pm By Cat Fredenburgh

Ernst & Young has settled all claims against it in a shareholder class action alleging the Big Four accounting firm and Pitcher Partners signed off on an overly rosy year-end financial report that failed to disclose risks and impairments associated with the law firm’s disastrous $1.2 billion acquisition of UK insurance claims company Quindell.

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Special leave refused in dispute over $81.8M Parklea Markets sale
David Williams 2022-05-20 3:20 pm By Cindy Cameronne

The High Court has refused Sydney retail personality Con Constantine’s bid to challenge a $4.25 million judgment in his favour over the $81.8 million Parklea Markets sale in 2016.

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Opal Tower class action reaches eleventh-hour settlement before 40-day trial
Construction 2022-05-19 10:54 pm By Sam Matthews

A long-running class action over the Opal Tower disaster has settled, along with two related cases over the defective building, as a five-week trial was set to begin.

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Viagogo loses appeal of $7M penalty for duping consumers
Competition & Consumer Protection 2022-05-18 2:03 pm By Sam Matthews

Viagogo has lost a bid to overturn a $7 million penalty handed down after a judge found the ticket reseller misled customers on an “industrial scale”.

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No hard time limit on criminal charges against ME Bank, prosecutors say
Financial Services 2022-05-18 1:09 pm By Christine Caulfield

Challenging a ruling that tossed half the charges brought against direct bank Members Equity, prosecutors have told an appeals court the ASIC Act does not impose a strict deadline for bringing a criminal case of misleading or deceptive conduct.

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Ford pushing for 10-day hearing in ‘all-in appeal’ of complex class action decision
Competition & Consumer Protection 2022-05-17 3:01 pm By Sam Matthews

Ford is seeking an extended hearing of its appeal from a class action judgment in favour of 185,000 vehicle owners over their allegedly defective cars, saying a “significant excavation” of the ruling is now in order. 

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Virgin Australia won’t take financial hit from shareholder class action
Securities 2022-05-13 10:02 pm By Christine Caulfield

A shareholder class action against Virgin Australia over representations made in a prospectus for a $324 million capital raising won’t put a dent in the airline’s financials, the company said Friday.

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Virgin Australia hit with class action over 2019 prospectus
Class Actions 2022-05-12 8:49 pm By Cat Fredenburgh

Virgin Australia has been hit with a shareholder class action over representations made in a 2019 prospectus for a capital raising to fund its $700 million acquisition of the Velocity loyalty program, just six months before the airline sank into administration.

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Corrs Chambers faces suit by client left to foot security after funder bowed out
Business of Law 2022-05-12 4:54 pm By Sam Matthews

A solicitor and former client is suing Corrs Chambers Westgarth for “very significant damages”, alleging breaches of multiple duties by the law firm in the course of protracted litigation.

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Gina Rinehart’s daughter wins appeal over $4B family trust documents
Appeals 2022-05-11 1:19 pm By Cindy Cameronne

The NSW Court of Appeal has granted Bianca Rinehart’s bid for her billionaire mother Gina to hand over trust documents that could be used in a dispute over ownership of the $4 billion family trust. 

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