The applicant in a class action on behalf of hundreds of thousands of Colonial First State Investments customers has raised concerns about whether he can recover compensation from a CBA life insurance unit that was recently sold to a competitor.
Multinational health technology company Philips may be hit with a class action after its sleep therapy machines were subject to an urgent safety recall over concerns customers could inhale degrading foam.
A court has ruled that labour hire firm CoreStaff cannot rely on its professional indemnity insurance to cover judgment against it in an employment class action alleging itmisled workers who relocated from Papua New Guinea to Australia for work.
Controversial legislation advanced by the Morrison government that will weaken the country’s continuous disclosure laws and make it harder to bring shareholder class actions has cleared the Senate.
The Federal Court has given the greenlight to a $30 million settlement in Shine Lawyers’ insurance class action against Westpac and will allow post-settlement registration notices to be sent to group members.
The former senior counsel in a settled insurance class action against Westpac has had his fees reduced by $70,000 after the Federal Court heard some of the work for which he charged was not done in the interests of group members.
PricewaterhouseCoopers has lost its bid to shut down a class action launched by bondholders of collapsed asset finance lender Axsesstoday Limited over alleged misrepresentations in a $50 million bond offer.
The applicant in a shareholder class action against IOOF wants to add ten new misconduct allegations, including that a relative of a former executive made $69,000 by offloading shares.
SkyCity’s announcement to shareholders about an employee’s interrogation by Chinese gambling authorities made little difference to the NZ casino operator’s share price, Crown Resorts has told a court in expert evidence ahead of a looming class action trial.
The judge overseeing class actions against Commonwealth Bank over its money laundering compliance failures has threatened to force the parties to go to trial by a certain date if they can’t agree to “sensible” time limits to ready the case for hearing, noting he would reach retirement age in 2024.