A judge has expressed hesitation about a $750,000 penalty proposed by the Australian Securities and Investments Commission in its misleading advertisement case against $5.15 billion credit fund La Trobe Financial Asset Management, calling the amount “very, very modest”.
The Australian Securities and Investments Commission has hit beleaguered mining firm Griffin Coal with criminal charges over its alleged failure to lodge annual financial reports for 2019 and 2020.
Logistics company GetSwift says it is considering an appeal of an 859-page judgment which lambasted the company and its directors’ “public relations-driven approach” to announcements on the Australian Stock Exchange.
The Australian Securities and Investments Commission has scored a victory in its long-running case against GetSwift, with the Federal Court finding the company and its directors breached the Corporations Act and ASIC Act through their “public relations-driven approach” to announcements on the Australian Stock Exchange.
Former Quantum Resources CEO and director Avrohom Kimelman has been sentenced after being convicted on charges of insider trading and conspiring to manipulate the market in shares of the company, now known as Nova Minerals.
Former Tennis Australia president Steven Healy has lost his bid for $4.3 million in indemnity costs against ASIC over its failed case over the rights to the Australian Open, with a judge finding the regulator’s case against him had “reasonable prospects of success” before trial.
Three law firms and a consultancy are fighting a bid by defunct financial advisor Dover Financial to bring negligence claims against two lawyers over a so-called client protection policy found to be “an exercise in Orwellian doublespeak”.
E&P Financial Group says it will defend a class action brought against it, subsidiary Dixon Advisory and director Alan Dixon, alleging they reaped millions of dollars in fees by pushing unsuitable financial products onto investors.
A judge has ordered a class action against AMP to provide more detail in its case accusing the financial services firm of failing to disclose information to shareholders about allegedly misleading ASIC and charging clients fees for no service.
The Australian Securities and Investments Commission has accused Finnish microloan company Ferratum of overcharging vulnerable, low-income consumers during the height of the COVID-19 pandemic.