Securities

Online trading platform IG Markets must pay over $5.5 million in damages to a customer, with a court finding a contract term that purportedly allowed it to reverse transactions made in error was unfair.

A judge has cut a 35 per cent contingency fee sought by a law firm running a shareholder class action against Origin Energy, even after a different judge approved the rate in a separate case by the firm.

Elanor Funds Management has recommended shareholders reject a $284 million unsolicited takeover bid by the Lederer Group, saying the price is “opportunistic” and materially undervalues the commercial property fund. 

A judge hearing a class action over the collapse of mining company Cudeco has questioned why, despite an in-principle settlement being reached with auditor KPMG, the parties have not sought to formally dismiss the claim. 

Real estate asset manager Dexus wants information that the Asia Pacific Airport Corporation gave to several consultants in a court battle over allegations it breached a shareholder deed in selling a stake in the airport operator. 

Magnis Energy Technologies has missed the deadline to file its evidence in ASIC proceedings over allegedly misleading disclosures about its lithium ion battery plant, with a court hearing the company's new lawyers have not had a chance to brief counsel. 

Online investment platform eToro has won its bid to rely on late expert evidence in ASIC's first-ever action alleging breach of obligations in designing and selling financial products over high-risk contracts for difference.

A geological consultant has been sentenced to a suspended 12 months’ prison after pleading guilty to insider trading using information obtained through his work with Beacon Minerals. 

A judge has approved a 35 per cent group costs order in a shareholder class action against WiseTech, but said the relatively high rate could be revisited by the court at a later stage in the case. 

Commercial property fund Elanor Funds Management has hit back at "factually incorrect" claims made by Lederer Group as part of a $285 million takeover bid.