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Insurer Allianz has pleaded guilty to six charges of making false or misleading statements online about the scope of cover under its travel insurance.
Avanteos hit with $1.7M penalty in landmark criminal case over dead member fees
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Former Commonwealth Bank subsidiary Avanteos Investments has been slugged with a $1.7 million penalty after pleading guilty to charges it failed to update disclosure statements on products that continued to deduct adviser fees from accounts of dead superannuation members.
Judge approves Blackstone’s takeover of Crown Resorts
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A judge has given his approval to the takeover of Crown Resorts by US private equity group Blackstone.
Judge questions law firm founder on why employment class actions are worth it
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A judge has questioned whether class actions are the best way to resolve underpayment disputes during a hearing on a settlement in two class actions against supermarket chain Romeo’s, which one group member called “criminally unfair.”
Six judges make Queen’s Birthday Honours List for service to the law
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Six judges made this year’s Queen’s Birthday Honours List for their service to the law and the judiciary.
Quintis investors to get $4.7M in class action settlement, court told
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Two years after an insurance dispute scuttled a proposed settlement, group members in two class actions against sandalwood producer Quintis are set to receive $4.7 million in a settlement with the defunct company.
ASIC wins contested extension in Mayfair, Mawhinney appeals
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A judge has granted ASIC a hotly contested extension of time in appeals brought by Mayfair Group and founder James Mawhinney after a judge slapped the investment group with a $30 million penalty.
Law firm seeks 30% cut in EML shareholder class action
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The law firm that’s running a shareholder class action against payment processing company EML will seek a group costs order for a 30 per cent cut of the suit’s proceeds.
ASIC puts funds on notice about ‘greenwashing’
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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.