Multiple class actions against troubled sandalwood oil producer Quintis will soon compete to stay alive after a court heard Tuesday the company would bring an application to stay or consolidate the cases.
The plaintiffs in a shareholder class action against Commonwealth Bank have taken another stab at their statement of claim, after a judge struck down the part of their pleading alleging the bank’s systems for assessing money laundering and terrorism financing risk were deficient.
The Australian Securities and Investments Commission wants documents from Westpac Banking Corp. detailing how it disciplined rogue traders, including Colin ‘the Rat’ Roden, at the centre of a scandal to influence the benchmark Bank Bill Swap Rate.
A NSW Supreme Court judge refused Monday to move one of five class actions filed against AMP to Federal Court, and invited law firms for the other four actions to join the case in the state court.
Law firm Maurice Blackburn has dropped plans for a class action against Retail Food Group alleging the franchisor misled shareholders about the long-term viability of its business model.
A shareholder class action will be filed against Brambles now that IMF Bentham has agreed to unconditionally fund the case over alleged misstatements related to the logistics company’s 2017 financial year sales and revenue forecasts.
China-based food retailer Winha Commerce has settled legal action it launched against the Australian Stock Exchange over ASX’s threats to delist the company.
Goldman Sachs has agreed to involve more lawyers in its capital markets transactions communications, after the Australian Securities and Investments Commission raised concerns about representations made during a Healthscope block trade managed by the US investment bank.
The trial in ASIC’s complex share market manipulation action against Whitebox Trading began Monday, with an opening submission by the corporate regulator that at times had even the presiding judge scratching his head.
Commonwealth Bank of Australia is facing a second shareholder class action after agreeing to fork over $700 million to settle anti-money laundering claims by the government’s financial intelligence agency.