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Former Slater & Gordon auditor Pitcher Partners has been hit with a class action alleging it signed off on an overly rosy 2015 year-end financial report that failed to disclose risks and impairments the firm faced from its recent acquisition of UK firm Quindell.
The amicus hired to assess the funder's cut of a potentially record settlement in several class actions against S&P Global over toxic financial products has told the judge that if he's considering approving a funding equalisation order, he should “start with a blank piece of paper” in calculating a reasonable funder's commission.
The judge weighing a record settlement in multiple class actions against S&P Global over toxic financial products said Tuesday there was "no way" he would sign off on the deal while it stipulated that all funds be returned to the ratings agency in the event the settlement amount is disclosed.
The US securities regulator is reportedly looking into Facebook's disclosures to investors about the harvesting of user data by political research firm Cambridge Analytica, as the company faces the threat of a privacy class action in Australia over the data debacle.
Multiple class actions against troubled sandalwood oil producer Quintis will soon compete to stay alive after a court heard Tuesday the company would bring an application to stay or consolidate the cases.
IMF Bentham is considering funding a privacy class action against Facebook for allowing political research firm Cambridge Analytica to harvest information from the Facebook accounts of over 311,000 Australians.
The Australian Securities and Investments Commission wants documents from Westpac Banking Corp. detailing how it disciplined rogue traders, including Colin 'the Rat' Roden, at the centre of a scandal to influence the benchmark Bank Bill Swap Rate.
The trial in ASIC's complex share market manipulation action against Whitebox Trading began Monday, with an opening submission by the corporate regulator that at times had even the presiding judge scratching his head.
A judge has found the Australian Cablemakers Association did not violate the consumer laws when it sent letters to several Ministers complaining that an electrical cable supplied by Midland Metals was unsafe.
A Federal Court judge on Friday reluctantly approved a $12 million settlement in the long-running class action against Bank of Queensland, saying it left almost nothing for those affected by the notorious Sherwin Ponzi scheme.