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AMP to pay $110M to settle shareholder class action
Class Actions 2023-08-21 11:30 am By Cindy Cameronne

A shareholder class action that was filed in the wake of the banking royal commission over AMP’s fees-for-no-service practices has settled for $110 million. 

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Deloitte settles class action over Hastie audits
Settlement 2023-08-16 10:13 pm By Cat Fredenburgh

Deloitte has settled a shareholder class action over its audits of collapsed construction group Hastie, a case which dragged on for six years as the accounting firm unsuccessfully fought to shield its audit reports.

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Noumi to face penalty in ASIC case after admitting to inflated inventory
Securities 2023-08-15 9:46 pm By Cindy Cameronne

Noumi has admitted in a case by ASIC to breaching its continuous disclosure obligations by overstating the value of its inventory and failing to give a true and fair view of the company’s financial position.

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Blue Sky director points finger at EY in shareholder class action
Class Actions 2023-08-15 10:55 pm By Cindy Cameronne

A Blue Sky director has pointed the finger at auditor Ernst & Young in a class action alleging the collapsed investment firm misled shareholders by misstating its assets under management. 

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Super fund suing Slater & Gordon looks to join Allegro Funds
Corporate 2023-08-11 11:53 am By Sam Matthews

A self-managed superannuation that has taken Slater & Gordon to court over the acquisition of its shares in the firm by Allegro Funds is seeking to join the private equity firm to the proceeding.

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Medical glove maker Ansell handed shareholder class action
Securities 2023-08-09 10:47 pm By Christine Caulfield

A shareholder class action has been filed against medical glove manufacturer Ansell Limited following an earnings guidance downgrade blamed on COVID-19.

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Downer class actions transferred to Victoria Supreme Court
Class Actions 2023-08-08 11:37 pm By Sam Matthews

The Federal Court has granted a bid by plaintiffs in competing class actions against Downer EDI to transfer their cases to the Victoria Supreme Court, where a four-way contest will take place.

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ASIC hits eToro with first-ever design and distribution action over CFDs
Securities 2023-08-03 11:35 am By Cindy Cameronne

The Australian Securities and Investments Commission has filed its first action alleging breach of obligations in designing and selling financial products, accusing online investment platform eToro of inappropriately exposing clients to high risk CFDs.

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EY points finger at Blue Sky in shareholder class action defence
Class Actions 2023-07-31 10:32 pm By Cat Fredenburgh

Auditor Ernst & Young has filed cross-claims against Blue Sky in a shareholder class action accusing the collapsed investment firm of misleading shareholders by misstating its assets under management.

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James Hardie facing shareholder class action over net income downgrade
Construction 2023-07-28 11:53 pm By Christine Caulfield

Building materials giant James Hardie Industries is facing a class action alleging it breached its disclosure obligations over its adjusted net income forecasts for the 2023 financial year.

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