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Lawyers leading a class action against the Commonwealth Bank over its alleged money laundering compliance failures are getting their ducks in a row in the event the Full Court rules the court has the power to shut out unregistered group members from a class action.
The CDPP's decision to drop all criminal cartel charges against two banks and four individuals in a "test case" over a $2.5 billion ANZ share placement shows the ACCC "lacks expertise and objectivity" on the financial markets and should leave them to ASIC to regulate, according to one of the former accused.
In a stunning reversal, the Commonwealth Director of Public Prosecution has dropped all criminal cartel charges against two investment banks and four individuals in relation to a $2.5 billion ANZ share placement, four years after the charges were brought following an allegedly questionable investigation by the ACCC.
A judge has ordered a class action against AMP to provide more detail in its case accusing the financial services firm of failing to disclose information to shareholders about allegedly misleading ASIC and charging clients fees for no service.
Colonial must give class action info on financial position after ‘unsatisfactory’ liability transfer
A judge has told a Colonial First State Investments unit to provide information about its financial position to the lead applicant in a class action and criticised the company for failing to disclose that it had transferred its liabilities after the class action was launched.
Insurance broker JLT Risk Solutions has opposed an application by a group of NSW councils to add misleading and deceptive conduct allegations to a long-running class action, claiming the changes would force the vacation of a five-week trial due to start in October.
Six of the world's largest car makers have agreed to pay $52 million to settle class actions accusing them of selling cars with deadly Takata airbags.
The lead applicant in a class action against Volkswagen over defective Takata airbags has been hit with indemnity costs for his failed case after a NSW Supreme Court judge found that deficiencies in aspects of the case were "manifestly clear".
A judge has ordered the ACCC to pay the State of NSW's costs in its failed proceeding against NSW Ports, finding that even though the consumer watchdog did not initially sue the state government that it was a "necessary and proper" party to the case.
The applicant in a class action against Volkswagen over defective Takata airbags has appealed a ruling dismissing the case for failing to establish any loss or damage.