A former AlphaThorn investment manager has pleaded guilty to charges of forging performance reports for two products to woo potential investors.
The score in shareholder class actions taken to trial now stands at a dismal 0-5 after a judge tossed class actions against the Commonwealth Bank of Australia on Friday. But don’t expect funders to throw in the towel until the High Court or an intermediate appellate authority has its say, experts told Lawyerly.
Two class actions have failed to convince a judge that the Commonwealth Bank of Australia’s money laundering compliance failure which led to a $700 million penalty was “law breaking on a grand scale” that should have been disclosed to the market, the latest shareholder case to flop after being taken to trial.
Omni Bridgeway will book a smaller-than-expected loss from its investment in failed shareholder class actions against the Commonwealth Bank of Australia that it spent close to $10 million on, having curbed its exposure by selling a stake in the group proceedings.
He was struck from the roll for his part in the darkest chapter of Victoria’s legal history, but that hasn’t stopped Banksia class action silk Norman O’Bryan from representing himself in an appeals court challenge to what he claims was a denial of procedural fairness and a false finding of fraud.
Slater & Gordon has won the court’s nod to be separately represented at an upcoming settlement approval hearing where it will seek a $12.8 million group costs order for running a shareholder class action against G8 Education.
Network Ten has largely succeeded in its bid for indemnity costs against Bruce Lehrmann for his failed defamation case over allegations he raped former colleague Brittany Higgins in Parliament House, allegations the broadcaster proved at trial were true.
The law firm behind a class action over cancelled Qantas flights has confirmed the case continues despite a $120 million settlement with the consumer regulator, and has called on the airline to follow through on its pledge to restore customers’ confidence.
A judge has refused to allow a female pilot to bring claims that Qantas engaged in sex discrimination because it had a culture that was “hostile to women”, saying that while the ‘vibe’ of a claim might suffice in the court of public opinion, it could not survive in a court of record.
Mehreen Faruqi wants to reopen a racial discrimination trial to rebut evidence by One Nation senator Pauline Hanson that she didn’t know the deputy Greens leader was Muslim when she wrote in a tweet that the senator should “piss off back to Pakistan”.