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Westpac admits that it violated the Corporations Act by awarding high performance marks to a financial adviser whose work was flagged for compliance concerns during several internal reviews.
LGL Commodities CFO can’t drag accountant into liquidator’s suit
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The former chief financial officer of LGL Commodities has lost a bid to join the accountant for the collapsed grain trader as a co-defendant in a case brought against him and three other directors by the company’s liquidators.
CFMMEU warned of deregistration risk for ‘aberrant’ conduct
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The CFMMEU must force “systemic behavioural change” on its construction division, a majority Full Federal Court said Tuesday in upholding a fine of $306,000 for workplace breaches against the union and raising the spectre of deregistration.
Brambles hit with second shareholder class action
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Chain logistics company Brambles is facing a second class action alleging it breached its continuous disclosure obligations by failing to revise its overly rosy 2017 financial forecast on several occasions.
Optus, Telstra reach deal over ‘Unlimited’ ads
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A claim for damages by Optus over Telstra’s ‘Unlimited’ ad campaign, which was found to be misleading and deceptive, appears to have been resolved by the rivals out of court.
Class action can claim Westpac unit knew about $1.9M Ponzi scheme
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A judge has denied a Westpac unit’s bid to strike allegations that it knew about a $1.9 million Ponzi scheme from a class action alleging the bank aided the Ponzi schemer’s illegal conduct.
Law firm must pay for ‘ineffective’ radio ads, court says
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Employment law firm McDonald Murholme has lost an appeal in a case over $37,000 in unpaid bills for five months of radio advertisements on the Victorian Radio Network the firm said were ineffective.
AMP slams ‘red herring’ in class action transfer fight
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Embattled financial giant AMP on Tuesday criticised concerns raised by lawyers for the federal class actions about group members’ opt out rights, saying the concerns were a “red herring” in the fight against an order transferring their cases to the NSW Supreme Court.
Pharmacist who sold fake Viagra can’t get licence back
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A Sydney pharmacist who was stripped of his registration after selling counterfeit Viagra has lost an application to have his licence reinstated.
ACCC scores $5.5M in fines over polycarbonate cartel
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The ACCC has scored fines totaling $5.5 million in its case against companies and individuals involved in an alleged cartel over the supply of polycarbonate, a little more than a month before trial kicks off against the alleged mastermind behind the cartel.