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A court has granted ASIC’s bid to wind up an illegal managed investment scheme whose operators fled to India following the “systematic misappropriation” of almost $7 million in investor funds.
Telstra sues Optus over ‘more than ever before’ ad campaign
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Telstra has filed a lawsuit accusing Singtel Optus of breaching the Australia Consumer Law through ads that claim it is “covering more of Australia than ever before”.
iSignthis lawsuit fails to plead how ASX caused $27M in losses, court finds
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A lawsuit by iSignthis seeking over $27 million in damages from the ASX has been sent back for revision, after a judge found the fintech had failed to causally link how a report by the exchange led to lost contracts with five clients.
Romeo’s hit with underpayments class action
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Supermarket chain Romeo’s has become the latest retailer to face a class action alleging it failed to pay staff for all hours worked.
Westpac’s anti-money laundering woes worsen
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Westpac anti-money laundering compliance troubles continue to worsen, with the bank reporting an additional 365,000 incomplete or inaccurate threshold transaction reports to AUSTRAC.
Lawyer loses sexual harassment appeal after urging court to just think of him as ‘Mr Darcy’
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A lawyer who argued his conduct towards a paralegal was not sexual harassment but a display of ardent affection akin to ‘Mr Darcy’ in ‘Pride and Prejudice’ has lost his appeal of a $170,000 judgment against him, with the Full Federal Court saying the case was “as far from a Jane Austen novel as it is possible to be”.
Funder behind Fair Work class actions a ‘litigation bounty hunter’, Full Court hears
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Facing accusations of being a “litigation bounty hunter”, litigation funder Augusta Ventures has made its bid before the Full Federal Court to overturn a landmark ruling which put it on the hook for $3.1 million in security in two Fair Work class actions.
Treasurer met with affiliate of US lobby group on eve of new class action regulations, inquiry told
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There is an “embarrassing” foreign influence on Australian laws, a plaintiff law firm has told a parliamentary inquiry into class actions, after revealing that Treasurer Josh Frydenberg met with an affiliate of the US Chamber of Commerce in May, shortly before announcing a crackdown on litigation funders.
‘Most painful relationship I’ve ever had’: Law firm describes falling out with funder in BOQ class action
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The law firm that represented elderly victims of Ponzi schemer Bradley Sherwin has told the government’s class action inquiry of its “painful” relationship with the funder involved in the proceedings, which eventually saw the firm bow out of the case because of a conflict of interest.
Banksia class action funder admits court was misled on fees, says commission shouldn’t suffer
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The litigation funder behind the class action over Banksia Securities’ collapse has admitted it misled a costs consultant retained to report to the court on the reasonableness of the fees in the case, but says its commission should not take a hit as a result because the misconduct occurred after the litigation settled against Banksia’s trustee for $64 million.