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Treasury Wine Estates may be hit with a shareholder class action following a recent surprise earnings downgrade that led to a drop in the company’s share price.
Optus hit with record $504,000 fine for spamming
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Optus has paid a record $504,000 fine for violating spam laws by sending SMS and email messages to customers that had previously unsubscribed from the telco’s giant’s marketing communications.
Lawyer says firm sacked him after complaints about ‘workplace culture of sniping’
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A barrister and former associate director of a boutique Melbourne law firm has brought legal action alleging the firm wrongfully terminated his employment after he complained about a “culture of staff going behind people’s backs”.
ANZ wants to know if ACCC pressured ASIC to drop JP Morgan case
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ANZ is seeking information on whether the ACCC put pressure on ASIC to not pursue proceedings against JP Morgan over a $2.5 billion share placement that is at the centre of a closely watched criminal cartel case, saying the matter raised a “serious question” about potential abuse of power by the regulators.
ACCC finds Barro stake in Adelaide Brighton won’t harm competition
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The Australian Competition and Consumer Commission has found Barro Group’s 43 per cent stake in Adelaide Brighton, acquired over a number of years, will not harm competition in the cement market.
Westpac to face US class action over AUSTRAC scandal
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A US-based plaintiffs firm is planning a class action against Westpac alleging it failed to alert investors to significant lapses in its anti-money laundering and counter-terrorism finance compliance, which led to a bombshell lawsuit by AUSTRAC last year.
Funder of second settled Murray Goulburn class action hires lawyers to fight for commission
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The entrepreneur who funded one of two settled Murray Goulburn class actions will defend his $10.5 million cut of the $37.5 million settlement, a commission that is under scrutiny by a contradictor appointed by the judge overseeing the case.
Mazda to ACCC: We don’t have to replace dented, scratched up cars
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Japanese car maker Mazda has replied to an ACCC action alleging it violated the Australian Consumer Law by failing to provide consumers with refunds or no-cost replacements for their allegedly faulty vehicles, saying it was not required to replace dented and scratched cars.
‘Bad publicity’ no reason to stay ASIC ban of ex-NAB adviser, tribunal says
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A former Adelaide financial advisor that worked for a subsidiary of National Australia Bank has lost his bid for a temporary stay of a five-year ban for allegedly recommending that clients invest in failed fintech start-up Bux Global, after arguing the bad publicity could negatively affect the impending sale of his business.
CFMEU hit with lawsuit for taking action over DP World automation
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The CFMEU is facing a lawsuit by four units of DP World Australia Group after refusing to accept the terms of four proposed enterprise agreements unless the stevedoring giant guaranteed it would not automate its terminals.