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The Commonwealth Bank of Australia, facing cross-claims by credit ratings agency Fitch in a class action alleging it gave false or misleading double A and triple A ratings to synthetic CDOs backed by Sigma Financial, told investors Fitch's withdrawal of Sigma's credit rating prior to the collapse of the $27 billion investment fund was a "technical" issue, the bank has admitted.
Trial in a shareholder class action against engineering company WorleyParsons will be heard by a new judge in late August, six months after it was unexpectedly vacated.
The Australian Securities and Investments Commission has won its bid to appoint liquidators to solvent landbanking company Aviation 3030, with a judge saying ASIC's public-interest case for the scheme's winding up was "overwhelming".
The Australian Securities and Investments Commission wants to add GetSwift's former inhouse lawyer as a respondent in its enforcement action against the logistics company, as debate rages over whether a class action against the company should be postponed.
The Australian Securities and Investments Commission made global trading firm Select Vantage "vanish overnight" from the Australian market using slanderous statements based on a lack of evidence, the NSW Supreme Court has heard.
Deloitte Touche Tohmatsu is facing claims by the lead applicants in two class actions against failed retail giant Dick Smith alleging its poor accounting practices contributed to the retailer's collapse.
Wealth manager IOOF is facing a shareholder class action alleging it failed to tell investors that misconduct aired at the Banking Royal Commission would put it in the crosshairs of Australia's financial regulator.
Baby food maker Bellamy's is not giving up its fight to limit the costs of two shareholder class actions against the company, lodging an appeal of a ruling that shut down its cost-capping bid as premature.
GetSwift has warned it may seek an injunction blocking Johnson Winter & Slattery from acting as instructing lawyers to the corporate cop in its enforcement action against the logistics company, saying the firm provided advisory work for it last year.
A litigation funder wants the High Court to review a court decision's to approve a $64 million settlement in litigation over the failure of Banksia Securities while rejecting the funder's commission and legal fees.