A judge has signed off on a group costs order in a shareholder class action against food company Noumi and auditor Deloitte guaranteeing group members a return of at least 78 per cent, but noted the law firms’ cut may need to be reviewed to avoid a “disproportionate return”.
A second securities class action has been filed against failed Blue Sky Alternative Investments and auditor EY alleging financial reports materially overstated the health of the asset manager ahead of its collapse three years ago.
The former director of investment management fund Courtenay House has pleaded guilty to five criminal charges after an ASIC investigation revealed he duped 585 investors in a $180 million Ponzi scheme.
Media company The Economist has failed in its opposition to registration of a trade mark for The Beer Economist, with an IP Australia delegate saying the mark was not substantially identical or deceptively similar to the UK publisher’s brand.
Virgin Australia’s insurers may be dragged into a class action accusing the airline of failing to disclose its true financial position in a 2019 prospectus for a $324 million capital raising.
The Commonwealth Bank of Australia knew about a “catastrophic” code error that caused widespread non-compliance with money laundering rules two years before it was disclosed to the market, a court has been told in a rare shareholder class action trial.
An appeals court has ordered a Perth silk to explain four bills in which entries marked ‘getting up’ accounted for over 36 days of work.
A class action on behalf of 3,500 business owners along Sydney’s light rail route has told a court that group members bore the brunt of the project’s delayed construction, described as “a train wreck which could be predicted from a mile away”.
The Star Entertainment Group has been served with a second shareholder class action over disclosures relating to its anti-money laundering controls, a month after it was slapped with a $100 million fine.
A court has found National Australia Bank engaged in unconscionable conduct in knowingly overcharging thousands of customers periodic payment fees for four years.
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