$583M Blue Sky class action can bring insider trading claims

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A judge has allowed a shareholder class action over the collapse of asset manager Blue Sky to bring insider trading claims against several short sellers, as well as brokers Credit Suisse and Argonaut Securities. 

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Court tosses class action’s appeal over public housing demolition

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An appeals court has rejected a class action’s challenge to a finding that Homes Victoria had a legitimate purpose in deciding to demolish and redevelop public housing towers in Melbourne, despite “lamentable” lack of consultation. 

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Leaders of Telegram ‘pump and dump’ scheme sentenced

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Four people who operated an illegal ‘pump and dump’ scheme through the Telegram app have been convicted and sentenced to terms of imprisonment via intensive correction orders.

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MWL adviser banned for 7 years for recommending Keystone fund

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A MWL financial adviser has been banned for seven years for advising clients to invest most of their super into Keystone’s Shield Master Fund, which is suspected of misusing $480 million in investor funds. 

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Judge won’t put Bupa class action on ice pending possible appeal

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A judge hearing a class action alleging Bupa failed to provide promised levels of care to residents has said she won’t put the case on ice pending the aged care provider’s potential appeal of a decision declining to toss the case. 

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Port Macquarie pub can’t assert restrictive covenant to block Liquorland

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A popular Port Macquarie tavern can’t enforce a restrictive covenant which bars a neighbouring shopping centre from selling alcohol, with a court finding that development consent was validly given to Coles to build a Liquorland. 

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ASIC questions rent-to-own company’s challenge to $7.4M penalty

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ASIC has questions about the “bona fides” of a rental company’s appeal of a $7.4 million penalty for unlawful loan agreements, telling a court it needs to see evidence about the “very rapid decline” of the company’s financial position.

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