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A $26 million settlement has been reached in a class action against Ardent Leisure alleging it misled shareholders about safety measures that were in place ahead of the 2016 tragedy at its Dreamworld theme park in Queensland which claimed four lives.
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.
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.
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.
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.
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.
A shareholder class action has been filed against medical glove manufacturer Ansell Limited following an earnings guidance downgrade blamed on COVID-19.
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.
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.
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.