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Online lender Prospa delays float to deal with ASIC queries
Financial Services 2018-06-06 2:26 pm By Christine Caulfield

Online small business lender Prospa postponed Wednesday’s expected float for 48 hours to “clarify” questions by the corporate regulator over its small business loans. 

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Class action filed against BHP Billiton over Brazil dam disaster
Class Actions 2018-06-06 12:08 pm By Christine Caulfield

BHP has been hit with a shareholder class action over the deadly Samarco mine disaster that wiped off $25 billion from the share price of the mining giant.

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Squire Patton Boggs appeals stay of GetSwift class action
Class Actions 2018-06-04 11:46 am By Christine Caulfield

Law firm Squire Patton Boggs is appealing a ruling that permanently stayed its case against technology startup GetSwift in favour of a competing class action.

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Commonwealth Bank to pay $700M to settle AUSTRAC case
Financial Rights Legal Centre 2018-06-04 10:54 am By Cat Fredenburgh

Commonwealth Bank of Australia will pay $700 million to settle claims of lax anti-money laundering oversight.

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Abalone boss jailed for 3.5 years for misleading board, investors
White Collar 2018-06-01 5:32 pm By Cat Fredenburgh

The former chief executive of Australian Bight Abalone has been sentenced to three-and-a-half years in jail for making misleading statements to board members and potential investors about the company’s abalone farming operation.

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Contingency fee ban on lawyers should be lifted, says law reform commission
Class Actions 2018-05-31 10:33 pm By Christine Caulfield

Class action lawyers should be able to enter into contingency fee arrangements, the Australian Law Reform Commission said Thursday as part of proposals to reform the country’s much maligned class action regime.

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Funder gets $30M in landmark class action creating common fund
Class Actions 2018-05-30 11:56 am By Christine Caulfield

The litigation funder behind the Federal Court’s precedential ruling that established the first common fund order in an Australian class action has secured a $30.75 million payout in the case.

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Westpac’s conduct ‘unconscionable’, but no BBSW rate-rigging, judge says
Financial Services 2018-05-24 3:51 pm By Christine Caulfield

Westpac Banking Corp. engaged in unconscionable conduct when it traded in bank bills in an attempt to influence the benchmark Bank Bill Swap Rate on four occasions, a Federal Court judge ruled Thursday.

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Judge denies bid to axe claim against lawyer in Deep Investments case
Securities 2018-05-23 11:00 pm By Cat Fredenburgh

A solicitor caught up in a lawsuit over alleged share trading losses has lost his bid to have misleading and deceptive conduct claims brought against him dropped.

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Judge picks Phi Finney to lead GetSwift shareholder class action
Class Actions 2018-05-23 11:45 am By Christine Caulfield

Boutique law firm Phi Finney McDonald has been chosen among three competing cases to lead a shareholder class action against GetSwift.

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