Australia’s largest financial services institutions have paid or offered to pay more than $882 million to remediate customers affected by their fees for no service conduct, the Australian Securities and Investment Commission has revealed.
The Commonwealth Bank of Australia has been hit with another class action for allegedly pushing insurance policies with excessive premiums onto customers.
Fintech company iSignthis, which initially sought $27 million from the ASX in a suit alleging the market operator’s suspension of its share led to lost contracts, has increased the claim for damages to more than $264 million.
Plaintiffs law firm Slater and Gordan has been hit with a lawsuit accusing it of giving negligence advice to a victim of notorious paedophile priest Michael Glennon.
The legal watchdog in Victoria will be asked to probe potential misconduct against the legal team behind the controversial Banksia Securities class action for their fees in a separate class action, which last year settled for $40 million.
St. Basil’s in Victoria has become the latest aged care facility to face a class action over its allegedly negligent handling of the coronavirus pandemic.
New laws aimed at regulating litigation funders are due to commence on Saturday, but Treasurer Josh Frydenberg is keeping a lid on four emails exchanged with the watchdog in the days leading up to the decision to bring in the sweeping changes.
Lawyer Alex Elliott, the son of the funder behind the Banksia Securities class action, has been ordered to give a “full, frank and honest” explanation of his role in an alleged fraudulent scheme to inflate legal fees in the case, and he risks his career if he’s not forthcoming.
Buffet restaurant pioneer Sizzler is seeking a quick win in its trade mark stoush with Brisbane-based Burger Urge tossed, telling a court it will be seeking summary judgment in its favour.
The Commonwealth has told a court it will not sit down for mediation talks with One Nation chief-of-staff James Ashby as he seeks to recoup almost $4 million in legal costs spent in a dropped sexual harassment case against former House speaker Peter Slipper.