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Wilsons Advisory and Stockbroking has paid a $548,328 penalty after the Australian Securities and Investments Commission found its reported Trade With Price Improvement products did not offer price improvement.
Flight attendant unfairly sacked from billionaire Paul Lederer’s private plane: FWC
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A business owned by billionaire and soccer team owner Paul Lederer unfairly dismissed a flight attendant who worked on his private jet because she refused to change hotels during a stopover, the Fair Work Commission has found.
‘Scandalous episode of corporate misconduct’: Judge OKs $1M GetSwift class action settlement
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A judge has approved a $1 million settlement in a shareholder class action against failed tech start-up GetSwift that leaves the law firm running the matter taking a “massive haircut” and the funder $5.5 million out of pocket.
United Petroleum hit with franchisee class action over ‘unprofitable’ Pie Face stores
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United Petroleum has been hit with a class action on behalf of franchisees who allege they suffered loss when the petrol giant installed loss-making Pie Face stores at its franchise sites.
ClearLoans agrees to $6M penalty in ASIC’s first COVID-19 case against lender
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Personal lender ClearLoans and its parent company have agreed to pay penalties of just over $6 million to settle the first COVID-19 related case brought by the Australian Securities and Investments Commission.
Crypto class action members ‘wholly unprotected’ by self-repped applicant, Meta says
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Arguing the interests of the self-represented applicant and group members are in conflict, Meta and Google are urging a court to shut down a class action accusing the digital giants of breaching competition law by banning cryptocurrency ads on their platforms.
PwC partner denies involvement in alleged $3.3M fraud scheme
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A PricewaterhouseCoopers partner has hit back at a lawsuit over her alleged involvement in a $3.3 million scheme to defraud her husband’s employer, saying she believed payments into her account were made under a personal loan brokered by her husband from a “wealthy friend” in China.
Ex-Nuix director wants class action shelved until ASIC case wraps up
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A former Nuix director has made a bid to stay a shareholder class action, which accuses the software company of failing to alert the market to red flags in the business, pending the outcome of separate proceedings by ASIC.
Kanye West faces costs bid in TM stoush amid push to block Aussie visa
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His antisemitic remarks have lost him a spot on Forbes billionaires’ list, and now the controversy-courting US rapper formerly known as Kanye West has been asked to show he can make good on any costs order in the event he loses his intellectual property case against a small Melbourne restaurant.
Forge Group defeats challenge to insider trading case over $187M sale
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Collapsed engineering firm Forge Group has defeated an appeal seeking to block its liquidators from bringing a case against engineering company Clough Limited for alleged insider trading during the 2013 sale of a $187 million stake in the company.