Australia’s largest private health insurer Medibank has been hit with a shareholder class action in the wake of a massive cyberattack that left the data of 10 million customers exposed.
The corporate watchdog has commenced a probe into ASX’s handling of the CHESS replacement program, including in relation to possible continuous disclosure breaches and misleading or deceptive conduct.
Beauty giant McPherson’s has denied ASIC’s claims that it misled the market and breached its disclosure obligations in 2020, arguing that a document showing sales of its Dr LeWinn’s line were down by $21 million was a draft that couldn’t have been used to revise a financial forecast.
The Australian Competition and Consumer Commission and Mazda have both lost their appeals in a case over the car manufacturer’s ‘appalling’ customer service, with three judges questioning the regulator’s decisions in how it ran the case.
Mining equipment company Qteq and its executive chairman Simon Ashton have denied allegations of bid rigging and other cartel conduct levelled by the Australian Competition and Consumer Commission.
A complaint has been lodged with the Australian Competition and Consumer Commission against Etihad Airways for allegedly making false or misleading statements about its greenhouse gas emissions and plans for achieving net zero emissions.
A judge has rejected arguments by superannuation trustee OnePath Custodians that the corporate regulator must look to former parent company ANZ for evidence in its fees for no service case.
The fifth and final defendant named in a criminal proceeding over a $105 million tax fraud involving payroll services company Plutus Payroll has been found guilty for his part in the scheme.
Tesla Motors Australia former director Kurt Schlosser has been given a suspended sentence for trading in shares of a lithium supplier based on insider information.
A law firm and several peak bodies for professionals in the corporate sphere have criticised the Australian Securities and Investments Commission’s enforcement track record, saying the regulator is inefficient and fails to properly address misconduct.