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The lead applicant in a class action over the failure of Banksia Securities is on the hook for paying the legal costs of a class member who successfully challenged the funder's cut of a $64 million settlement in the case.
Telstra has lost an appeal of a ruling that rival Optus' "Empires End" advertising campaign was not misleading or deceptive.
A lingering dispute with the tax office remains, but the distribution of the record $795 million Black Saturday class actions settlement is substantially complete, according to a report out this week, and the proceedings, by the measure of at least one expert, show why the class action system in Australia is working.
The Reserve Bank of Australia's two banknote subsidiaries pleaded guilty to foreign bribery charges in 2011 and paid fines of more than $21 million, it was revealed Wednesday after a seven-year suppression order was lifted.
ASIC has banned the former director of AGM Markets from serving as a director for eight years, a few weeks after revoking the OTC derivative issuer's financial services licence.
Maurice Blackburn's battle with the Australian Taxation Office over a tax bill on class action settlements for thousands of Black Saturday bushfire victims went to court Tuesday, and the landmark case may turn on whether or not the law firm's administration of the settlement distribution scheme counts as a business.
A judge has ordered changes be made to the opt out notice in three class actions over the 2018 St. Patrick's Day bushfires in South West Victoria, after insurers complained comments made by a Maddens principal to a local newspaper were misleading.
An appeals court has rejected the funder's commission and legal fees stemming from a $64 million settlement in litigation over the failure of Banksia Securities, but granted approval to the settlement.
ASIC has been given a little over a month to provide ANZ with documents it collected during the course of its investigation into a $2.5 billion ANZ share placement, as the bank, which is facing a related criminal cartel case, mulls whether to file an application to stay the regulator's action.
Blasting the battle of competing class actions as a fight for the "commercial interests" of litigation funders not class members, a judge has called on lawyers for two shareholder actions against Brambles to settle the dispute themselves.