A Sydney-based broker is facing a class action investigation on behalf of customers who bought binary options over a six-year period, after the Australian Securities and Investments Commission banned the risky derivatives earlier this year after finding they were likely to cause “significant detriment”.
A COVID-19 business interruption test case that was filed in the Federal Court following a landmark loss for insurers in test case before the NSW Court of Appeal, will be determined along with any appeals by the end of the year, a judge has said.
Four executives of the failed Arrium have named auditor KPMG as a “concurrent wrongdoer” in defending a shareholder class action over a $754 million capital raising two years prior to the mining and steel giant’s $2 billion collapse.
A surgeon facing class action claims from breast implant patients of the defunct The Cosmetic Institute has won his legal battle against an insurer that denied coverage for his defence costs.
For Herbert Smith Freehills partner Christine Tran her first all-nighter at the law firm was a critical moment in her career in class action litigation.
Growing up in rural Australia as the son of a Vietnam veteran, Colin Biggers & Paisley partner Michael Russell’s childhood instilled in him a resilience and a can-do attitude which he credits with helping him tackle the most difficult class action defenses.
Western Power was negligent in causing the January 2014 Perth Hills bushfire which destroyed 57 homes, an appeals court has found, putting the state-owned electricity company on the hook for the majority of the damage caused to members in the group action.
Two shareholder class actions against sandalwood producer Quintis that reached an in principle settlement over a year ago are moving forward following a protracted dispute over insurance, with the lead applicants getting approval to file proposed amended pleadings.
A judge has rejected a request that he approve a settlement with the lead applicants in a class action by investors in failed music streaming platform Guvera that would dispense with the class action without notice being sent to group members.
Third-party liability insurers may become the latest parties to be dragged into a complex class action over alleged defects in Sydney’s Opal Tower, which has has spawned six cross-claims so far.