Defunct financial adviser Dover Financial has sued three separate law firms for allegedly negligent advice over a ‘client protection policy’ that the Federal Court found was misleading, deceptive and an “exercise in Orwellian doublespeak”.
The second of two class actions brought against Westpac over alleged anti-money laundering breaches has been denied discovery of what the bank claims are commercially sensitive documents until the law firms behind the class actions work out how their competing cases will proceed.
Grain handling group Viterra has been denied a post-hearing bid to reopen a lawsuit brought by Cargill Australia over its $420 million acquisition of Joe White, with a judge finding the application would lead to “substantial disruption and delay”.
The High Court has agreed to weigh in on a decision last year to pick Maurice Blackburn’s case as the winner of a beauty parade of shareholder class actions against AMP over the wealth manager’s controversial fees for no service.
Ashurst will cut partner and staff salaries by 20 per cent to brace for an anticipated slowdown in the markets where it operates due to the coronavirus pandemic.
Publication of a document outlining the Australian Stock Exchange’s reasons for suspending the shares of ISignthis would be ‘damaging’ to the fintech company and should be barred until after the trial, a court has heard.
Cruise company Australian Pacific Touring has settled a lawsuit brought against the Federal Government challenging an order forcing foreign-owned cruise ships out of Australian waters due to health concerns raised by the coronavirus.
A judge has issued a temporary injunction limiting how Mayfair 101 can promote two of its investment products, in proceedings brought by ASIC accusing the investment firm of misleading and deceptive advertising.
Ford has lost its bid to delay an upcoming virtual trial in a class action over allegedly defective PowerShift transmissions, with a judge saying the parties must try to make a virtual trial work because the current “unsatisfactory” circumstances caused by the coronavirus pandemic could continue for a year or more.
The Australian Securities and Investments Commission has taken action on another banking royal commission case study, filing court proceedings against insurer Youi for allegedly taking two years to settle a home owner’s hail storm claim.
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