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Defence shipbuilder Austal and its CEO have agreed to pay a combined $700,000 in penalties for violating the Corporations Act by failing to notify the market of a US$90 million writeback related to the company's $3.5 billion US Navy warship program.
A judge weighing a $29.5 million settlement in a class action against recycling company Sims Limited has questioned the court’s power to vary the funding agreement between the applicant and funder, which seeks to pass on its insurance costs to group members as well as recoup costs and earn a commission.
BHP Group has lost its High Court battle to keep foreign investors from an Australian shareholder class action over the devastating collapse of a Brazilian dam.
Investors in Mayfair Group’s collapsed IPO Wealth Fund are set to recoup only a fraction of their alleged $67 million losses in a best-case settlement of a class action alleging the fund’s trustee misled unit holders.
Crown Resorts has asked the court to appoint a contradictor to fight against a group costs order sought in shareholder class action accusing the casino giant of lax anti-money laundering compliance over a six-year period.
Embattled investment firm Linchpin Capital has sued auditors Grant Thornton and Moore Stephens for signing off on the compliance plan for a registered fund that allegedly used investor money to advance the company's business interests and line its directors' pockets.
Construction firm CIMIC has foreshadowed a fight over “obscure” new pleadings in a two year-old shareholder class action alleging the company failed to keep the market informed about issues with its Middle East operations.
The Australian Securities and Investments Commission has filed long-awaited action against troubled tech company Nuix and a handful of former and current directors over allegedly misleading revenue announcements to investors.
The former CEO of Blue Star Helium has asked the High Court to throw out a $40,000 penalty and four-year ban imposed on him after the company failed to disclose to shareholders the identity of the buyer behind a botched sale of Texas oil assets.
A judge has raised concerns with Maurice Blackburn and Slater & Gordon for their slow progress in a consolidated shareholder class action against Treasury Wine Estates, one year after scolding the firms for their delay in filing evidence.