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The Australian Securities and Investments Commission has put issuers of superannuation and managed funds on notice that it is monitoring the market for ‘greenwashing’ in promotions for sustainability-related products.
$630,000 legal bill should be borne by all Drakes class action members, court told
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A law firm is seeking a funding equalisation order to have all group members contribute to the $630,000 legal bill it racked up in running an underpayments class action on behalf of Drakes store managers that has settled for $2 million.
Toyota appeals loss in $2B diesel filter class action
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Toyota has lodged an appeal of a judgment that could see it owe around $2 billion to 260,000 car owners for selling vehicles with defective diesel filters for more than they were worth.
Sims settles shareholder class action for $29.5M
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Recycling company Sims Limited will pay $29.5 million to settle a shareholder class action alleging earnings guidance for FY16 failed to account for the likely prospect of falling scrap metal prices.
Class action applicants not harmed despite Hardi’s misleading ads for crop sprayer, judge says
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A judge has found the lead applicant in a class action over an allegedly defective crop sprayer did not suffer any loss despite finding agricultural equipment manufacturer Hardi misled him and other farmers who bought the machine.
Judge allows report denying PFAS link with immunosuppression in contamination class action
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A class action alleging the federal government contaminated Indigenous land with toxic firefighting foam has lost a challenge to a report by a scientist who declined to find that the foam could cause adverse health effects including immunosuppression and interfere with the efficacy of vaccines.
Mayfair’s James Mawhinney agrees to steer clear of IPO Wealth investors
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Mayfair Group’s James Mawhinney has given an undertaking to not contact group members in a class action against a trustee of the collapsed IPO Wealth fund after allegedly urging investors, through a PR firm, to reject a settlement offer.
CBRE offered to pay $600,000 before winning $20M negligent valuation case
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A court has handed CBRE indemnity costs for successfully defending a negligent land valuation lawsuit by defunct fund manager City Pacific after it had offered $600,000 to settle the case.
Clive Palmer’s nephew can’t dodge contempt proceedings over Queensland Nickel collapse
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The former director of Queensland Nickel and nephew of mining magnate Clive Palmer has lost another bid to dodge contempt proceedings brought by the collapsed company’s liquidators.
Prosecutors secure second guilty plea in Nova Minerals market manipulation case
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NSW man Benjamin Cooper has pleaded guilty to manipulating the share price of Nova Minerals in a conspiracy that involved the gold ore mining company’s former CEO.