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Downer EDI is facing a possible shareholder class action after the construction giant revealed accounting irregularities had caused it to overstate its revenue by as much as $40 million.
On ‘third birthday’ of PwC class action, judge rails against slow progress
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A judge has blasted the lack of progress in an investor class action against accounting firm PricewaterhouseCoopers and asset finance lender Axsesstoday over an allegedly misleading $50 million prospectus.
Carnival class action over norovirus outbreaks faces strike out, declassing bids
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A class action against Carnival over norovirus outbreaks on its Sun Princess cruise ship is facing a strike out bid, with the cruise operator also flagging a declassing application down the line.
Former ANZ unit says ASIC should ask bank for info in fees for no service case
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A judge has rejected arguments by superannuation trustee OnePath Custodians that the corporate regulator must look to former parent company ANZ for evidence in its fees for no service case.
Merivale slams class action’s bid for second opt out notice to workers
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Hospitality giant Merivale is contesting a bid by the applicant in a $129 million underpayments class action to issue a second opt out notice to employees, which it said was an attempt to ensure group members “take an interest” in the proceedings.
Richard Crookes to appeal landmark judgment on SOPA’s availability to insolvent companies
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Construction company Richard Crookes plans to appeal a ruling which found the Security of Payment Act is available to insolvent builders to pursue debts under a deed of company arrangement, despite an amendment to the law preventing construction companies in liquidation from enforcing payment claims.
Jury finds fifth person guilty in $105M Plutus tax fraud case
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The fifth and final defendant named in a criminal proceeding over a $105 million tax fraud involving payroll services company Plutus Payroll has been found guilty for his part in the scheme.
Sydney lawyer sentenced to 12 years for role in Plutus tax fraud
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A Sydney lawyer has been sentenced to up to 12 years in prison for laundering $24 million as part of the Plutus tax fraud.
Tesla Australia director gets suspended sentence for insider trading
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Tesla Motors Australia former director Kurt Schlosser has been given a suspended sentence for trading in shares of a lithium supplier based on insider information.
Second concussion class action filed by former AFL players
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A second class action has been filed against the Australian Football League and four clubs on behalf of former players who allegedly suffered brain injuries after sustaining repeated concussions during games.