Eclipx group is looking at a possible shareholder class action following recent drops in its share price after it disclosed that its published profit growth forecasts need to be revised downwards.
The corporate watchdog can’t get its hands on documents detailing Westpac’s disciplinary measures against rogue traders or communications between the employees ahead of a penalty hearing in a case that found the bank attempted to influence the Bank Bill Swap Rate.
The Australian Securities and Investments Commission will get a $70.1 million boost to fight corporate wrongdoing as part of a funding package that includes a plan to embed ASIC staff in the big four banks and AMP.
A Perth businessman has filed an appeal of a judge’s ruling that an email forwarded by a Gadens lawyer from ASIC alerting him that he had been disqualified from serving as a director constituted proper notification.
A week before WorleyParson’s CEO promised shareholders net profits in excess of $322 million for the 2014 financial year, the engineering group’s global finance director told its CFO that the company’s earnings targets were “a stretch”, according to an email uncovered in a shareholder class action.
The judge overseeing the GetSwift class action proceedings was bent on picking a winner from the outset and should be removed from the case for rehearing, a barrister for one of the losing law firms told the Full Federal Court Monday.
A cane farmer in his 80’s suffering from Alzheimer’s disease will get $6.6 million back that he invested in a failed technology venture, after a judge found the private equity company that arranged the investment exploited the man’s disability.
Settlements totaling $39 million have been reached in two class actions against the former trustee of failed investment groups LKM Capital and GR Finance.
Three senior Federal Court judges will hear arguments Monday and Tuesday in a closely-watched appeal of a ruling that stayed two of three competing shareholder class actions against GetSwift as an abuse of process, and the impact of the Full Court’s ruling will be felt for a long time to come. Here are five major issues the court will be wrestling with over the next two days.
Former Slater & Gordon auditor Pitcher Partners has been hit with a class action alleging it signed off on an overly rosy 2015 year-end financial report that failed to disclose risks and impairments the firm faced from its recent acquisition of UK firm Quindell.