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Westpac has denied claims in a shareholder class action filed in the wake of AUSTRAC proceedings alleging 23 million breaches of anti-money laundering and counter-terrorism finance laws, saying the information the class action says it should have disclosed to shareholders "did not exist".
A judge has warned counsel leading a shareholder class action against logistics provider GetSwift that "real persuasion" would be needed to convince him to allow the class to expand its case two months out from trial.
A judge has pushed off a heated contest between law firms vying to lead a shareholder class action against construction giant Boral for what could be a year as a landmark High Court challenge plays out.
The Commonwealth Bank of Australia has refused to provide sought-after documents to the lead applicants of a joint class action against it until AUSTRAC grants permission, citing concerns over possible criminal breaches if it hands over the material without the agency's approval.
Two law firms that filed competing shareholder class actions against construction giant Boral have asked the court to permanently stay the other's proceeding, after the judge overseeing the matter said he might wait until the High Court's ruling on the AMP class action beauty parade before deciding which class action should move forward.
A judge has scolded the law firms behind competing shareholder class actions against Boral for delaying progress of the proceedings, but may wait until the High Court's ruling on the AMP class action beauty parade before deciding which of three potential class actions should move forward.
A former director of GetSwift has given evidence at trial in ASIC's case against the logistics provider that the company drafted a correction to a misleading ASX announcement about a deal with fruit and milk delivery provider Fruit Box but never released it.
A judge has dismissed a defensive bid by ASIC to amend its case against GetSwift mid-trial, instead calling on "common sense" to be injected into the proceeding as the hearing enters its second week.
GetSwift "sat on" an announcement about a lucrative deal with US-based automotive sales and marketing firm N.A. Williams for more than three weeks, then leaked the news to the media before announcing it on the Australian Stock Exchange, ASIC has told the Federal Court on day two of a trial in the corporate regulator's case against the logistics tech company.
Émails show the directors of logistics company GetSwift took a "deliberate approach" to inflating the company's share price through a constant supply of positive ASX announcements about new multimillion-dollar contracts, ASIC said on the first day of a highly anticipated five-week trial.