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A judge has ordered two law firms that filed competing shareholder class actions against failed Blue Sky Alternative Investments and auditor EY to team up to run a consolidated proceeding, despite opposition by one firm.
The law firm that filed a second securities class action against failed Blue Sky Alternative Investments and auditor EY has moved swiftly to stay a competing class action brought three months ago.
The High Court has dismissed an application by accounting giant KPMG to transfer a class action over the collapse of mining company Arrium from Victoria to NSW.
The High Court has turned down the appeal of the former Blue Star Helium CEO who was hit with a $40,000 penalty and four-year ban after the company failed to disclose to shareholders the identity of the buyer behind a botched sale of Texas oil assets.
Liquidators of failed tech company GetSwift have foreshadowed an objection to a $1.5 million settlement going to shareholders in a class action that a judge has labelled a “disaster".
The former chief executive of Commonwealth Bank has told a court internal auditors raised issues with CBA's anti-money laundering and counter-terrorism financing compliance four years before AUSTRAC took action that saw the bank's share price plummet.
Nuix has pointed the finger at its accountant PricewaterhouseCoopers in the software company's defence to a class action over a prospectus for its $1.8 billion IPO two years ago.
The Commonwealth Bank of Australia has argued that disclosing its money laundering failures before AUSTRAC brought proceedings would have misled the market, as the bank takes the rare move of defending a shareholder class action at trial.
A second securities class action has been filed against failed Blue Sky Alternative Investments and auditor EY alleging financial reports materially overstated the health of the asset manager ahead of its collapse three years ago.
While CBA's defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.