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Lawyers running the scandal-ridden Banksia class action have been struck from the roll of practitioners, will face criminal investigation and must pay group members $11.7 million in damages.
Judge warns AMP it could face 1.2M lawsuits if declassing bid succeeds
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AMP and a number of its financial planning subsidiaries could face 1.2 million individual claims if they win a bid to declass a group proceeding over allegedly excessive insurance premiums, a judge has said.
Lawyers in Crown Resorts class action fully vaxxed and ready for in-person trial
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A six-week trial in a shareholder class action against Crown Resorts set to begin at the end of October will start off virtually and shift to an in-person hearing once COVID-19 restrictions are eased in Victoria.
ANZ wins access to JPMorgan settlement chats in cartel case
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A judge overseeing a cartel case over a $2.5 billion ANZ share placement has granted ANZ’s bid for unredacted documents which the bank says will support its claims that the case should be permanently stayed because of improper dealings between whistleblower JPMorgan, ASIC and the ACCC.
Government can’t dodge sovereign bonds climate change class action
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A climate change activist can continue her lawsuit alleging the federal government failed to disclose the impact of climate change to investors in sovereign bonds, with a court rejecting the Commonwealth’s strike-out application.
FWO alleges Commonwealth Bank ‘knowingly’ underpaid staff $16.4M
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The Fair Work Ombudsman has taken the Commonwealth Bank of Australia and CommSec to court for allegedly knowingly underpaying almost 7,500 employees over $16.4 million through the use of individual agreements.
ASIC takes superannuation trustee Diversa to court
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The Australian Securities and Investments Commission has launched court proceedings against superannuation trustee Diversa for allegedly failing to take appropriate action in response to a financial advisor who was under investigation.
Day of reckoning arrives for Banksia class action lawyers
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It has been described as the darkest chapter in Victoria’s legal history, an exemplar of all that is terrible with class actions in Australia. A case of greedy lawyers who found their golden egg in a group of retirees who had lost their life savings, never thinking the chickens might come home to roost. Until now.
Insurers largely prevail in second COVID-19 test cases
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Insurers have largely succeeded in challenging COVID-19 business interruption losses claimed by a group of small businesses, in an important second test case that could save the industry billions of dollars.
Barrister fights to remain anonymous as NSW Bar seeks stiffer penalty for lewd act
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An appeals court hearing the case of a barrister who allegedly made a sexual comment to a clerk while intoxicated at a dinner following a legal industry event has questioned how a professional reprimand can serve a protective purpose if the person remains unnamed.