Securities

ASIC has filed action against Delta Electricity, owner of the Vales Point coal-fired power station in NSW, alleging “deliberate and calculated” manipulation in the market for electricity futures contracts. 

A judge has approved a $43 million settlement in a class action action alleging Noumi misled investors about its inventory, including a 22 per cent group costs order to be split between the two law firms that ran the case.

In a first, the federal government has filed proceedings against a foreign investor and its former associate for alleged non-compliance with orders to divest their interests in rare minerals miner Northern Minerals.

Payments processing company EML has agreed to pay $37.3 million to settle a shareholder class action over its alleged failure to disclose Ireland central bank’s concerns with its anti-money laundering compliance.

S&P has reached a settlement in a case by two Cayman Island companies over alleged defective ratings but a class action won’t settle until “hell freezes over,” a court has heard.

A judge has OK'd a settlement in a class action against Treasury Wine Estates, along with $27 million in fees charged by Maurice Blackburn and Slater & Gordon, after initially questioning the difference between the firms' rates.

A judge has recused himself from hearing a class action against Fletcher Building, and has imposed a ban on presiding over any cases involving Maurice Blackburn for a period of time.

The funder of a failed class action against the founder of sandalwood producer Quintis and EY and has been hit with costs, despite arguing the order would set a bad precedent. 

A judge has temporarily excused uranium miner Paladin Energy from providing initial discovery in a shareholder class action, as the parties wait for a competing class action to be filed. 

Professional services giant KPMG has reached a settlement in a shareholder class action over the failure of mining company Cudeco.