Commonwealth Bank of Australia could be on the hook for a large penalty after the court found the bank engaged in misleading and deceptive conduct and violated its financial services obligations on more than 12,000 occasions by overcharging customers more than $2.2 million in interest.
A tax agent and accountant who conducted multiple tax exploitation schemes between 2011 and 2015 has been hit with a $22.7 million penalty, the largest ever against a tax promotor.
PricewaterhouseCoopers is looking to shut down a class action by irate bondholders of collapsed asset finance lender Axsesstoday Limited over alleged misrepresentations in a $50 million bond offer.
Pharmaceutical companies Sanofi and Bristol-Myers Squibb are liable for losses to the federal government for excess subsidies it allegedly paid for the blood-thinner Plavix after an unjustified court injunction prevented the release of a generic version of the top-selling drug, an appeals court has heard.
A fraudster who robbed victims of $7.6 million by pretending to be a financial investor and barrister has had his jail sentence reduced from 16 years to 12, after a court of appeal heard his original sentence was “crushing” and did not reflect his guilty plea or lack of criminal record.
A $37.75 million settlement has been reached in a shareholder class action against Estia Health that accused the aged care provider of failing to disclose difficulties in its 2015 and 2016 acquisition strategy.
US pharmaceutical giant Merck Sharp & Dohme has taken Sandoz to court for allegedly threatening to infringe the patent for its multibillion-dollar diabetes drugs Janumet and Januvia.
GetSwift has been criticised for its “quite unfair attack” on a Federal Court judge who refused to disqualify himself from hearing a shareholder class action against the logistics software company after presiding over ASIC’s civil penalty proceeding against the company.
South Korean car maker Hyundai is facing a possible class action after it recalled over 90,000 cars earlier this month over safety concerns.
A judge has ordered a Melbourne-based law firm to stop acting for property company Xriso in a case against a former client over the terms of a deposit for a $51 million Werribee development in which the firm’s managing partner is likely to be a key witness.
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