A judge has questioned why ASIC is still pursuing its case CBA unit Colonial First State over statements made to 12,000 fund managers during the transition to MySuper accounts, after the bank admitted it misled members in 61 of the 80 phone calls at the heart of the case.
A bid by KPMG to push off the filing of its defence in a class action over misleading statements ahead of Arrium’s $754 million capital raising in 2014 has been shot down by a judge, who said the auditor has known the claims against it since November.
Freedom Foods is not giving up on its legal battle to have a dispute with Blue Diamond Growers over an almond licensing deal determined in Australia.
A former financial advisor employed by an IOOF unit accused of taking hefty commissions for steering investors towards risky investments contravened the financial advice provisions of the Corporations Act, a judge has found.
The Australian Taxation Office has successfully appealed a Federal Court decision finding it could not recover an R&D tax offset refund of around $2.3 million paid to Auctus Resources despite the payment being made by mistake and the mining company admitting it was not entitled to the money.
A judge has handed ASIC a victory in finding that investment group Mayfair 101 misled investors about the level of risk of its financial products, a ruling that will expose the group to pecuniary penalties at a time when a number of its entities have been wound up.
The judge overseeing a class action against Bayer-owned Monsanto has suggested a hearing by the end of the year on the cancer risks of the company’s Roundup products, saying judgment on that question would either encourage the proceedings to settle or end the case.
Star Entertainment Group Ltd is facing a lawsuit brought by a high-roller claiming the casino giant owes him almost $14 million won at the Baccarat table over a seven-day gambling spree last year.
Insurance broker Jardine Lloyd Thompson wants to declass a representative action brought on behalf of local councils in NSW alleging it socked them with inflated premiums, arguing there are no common questions to be determined in the case.
A judge has ruled the plaintiffs in the Gladstone Ports class action cannot reserve the legal costs of an application to avoid disclosure of expert reports, despite finding they had raised a novel issue.