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All judge wants for Christmas is IOOF class action evidence
Class Actions 2020-12-16 4:39 pm By Miklos Bolza

A Federal Court judge taking over a shareholder class action against IOOF Holdings from a recent High Court appointment has lamented the lack of progress in the case, which has been ongoing for nine months.

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Arnold Bloch Leibler hits Slater & Gordon with cross-claim in shareholder class action
Class Actions 2020-12-14 9:26 pm By Spencer Fowler Steen

Arnold Bloch Leibler has hit back at a class action by Slater & Gordon shareholders accusing it of misleading and deceptive conduct and breaching its duty of care by greenlighting the law firm’s $1.2 billion acquisition of Quindell, filing cross-claims against Slater & Gordon and two of its former directors.

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BHP appeals ruling allowing foreign group members in shareholder class action
Appeals 2020-12-14 4:53 pm By Miklos Bolza

BHP Group Ltd has appealed a ruling allowing foreign group members to be part of a shareholder class action against the mining giant over the Fundao dam failure in Brazil five years ago.

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Crown Resorts hit with class action over money laundering compliance
Class Actions 2020-12-14 12:01 pm By Cat Fredenburgh

Maurice Blackburn has hit Crown Resorts with a shareholder class action alleging the casino giant had lax anti-money laundering compliance systems in place over  a six-year period.

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Banksia funder’s son would have confided in friend had he known of dad’s deception, court told
Class Actions 2020-12-11 10:43 pm By Christine Caulfield

The son of the funder behind a class action at the centre of scandalous misconduct claims says he would have sought advice from a family friend if he had realised his father and counsel leading the case were misleading the court to inflate their profits from a $64 million settlement.

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‘I didn’t put two and two together’: Lawyer says he never caught on to misconduct in Banksia case
Class Actions 2020-12-09 10:54 pm By Christine Caulfield

Solicitor Alex Elliott has said it never clicked with him that members of the legal team running the Banksia class action were misleading an appeals court when his father — the mastermind behind the alleged deception — told him to sign cheques for lawyers that they could not cash.

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Routine email destruction ‘bombshell’ on eve of Banksia funder’s death just a ruse, court told
Class Actions 2020-12-08 11:25 pm By Christine Caulfield

The funder accused of a fraudulent scheme to pocket inflated fees from the Banksia Securities class action produced less than 200 documents to the contradictor in the case and invented a story about a routine email purging practice to explain the discovery hole, a court has heard.

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ASIC accuses iSignthis of breaching disclosure obligations
Financial Services 2020-12-07 9:39 pm By Spencer Fowler Steen

ASIC has launched civil proceedings against iSignthis and its CEO, alleging the company breached its continuous disclosure obligations by failing to inform shareholders that client Visa had ended their relationship due to concerns over the fintech’s money laundering compliance.

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Judge nixes bid to boot unregistered group members from Sims class action
Class Actions 2020-12-04 10:23 pm By Christine Caulfield

A bid by the applicant to restrict a securities class action against recycling company Sims Metal Management to shareholders who have registered to join the case has been shot down by a judge, who said the application was not in the interests of justice but “in the interests of injustice”.

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Banksia funder’s son says threat to scrap $64M class action settlement ‘didn’t feel right’
Class Actions 2020-12-03 5:45 pm By Christine Caulfield

The son of Banksia Securities class action funder Mark Elliott questioned his father on whether it was “right” to rip up a $64 million settlement with the collapsed lender’s trustee if the deal didn’t guarantee him a $12.8 million commission, a court has heard.

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