A judge has hit ANZ with a $25 million penalty in a case by the corporate regulator that alleged the bank short-changed hundreds of thousands of customers to the tune of $200 million.
Commonwealth Bank units CommSec and Australian Investments Exchange have been ordered to pay more than $27 million for “serious and unacceptable” system failures that led to excessive fee charges for customers.
Facebook owner Meta wants to uncover the basis on which crypto tokens have been issued to bankroll a class action over its 2018 ban on cryptocurrency ads, citing the potentially conflicted interests of the self-represented lead applicant.
The Australian Securities and Investments Commission has brought proceedings against a Sydney-based issuer of Qoin that is also facing a class action, alleging it misled customers about the unregulated and ‘inherently risky’ crypto-asset.
Education superannuation fund NGS Super has filed a trade mark lawsuit against Australian blockchain mining company NGS Crypto, claiming it failed to comply with a promise to rebrand and continues to profit at the fund’s expense.
A judge has rejected a bid to add an insolvent trading claim to a $78 million class action over the collapse of Walton Construction, citing “extraordinary” delays in the three-year-old case.
A judge has questioned AMP Financial Planning over whether it breached court orders to compensate customers after finding the firm failed to prevent a now banned adviser from churning life insurance for higher commissions.
Fund manager Salter Brothers has been awarded more than $8 million in a breach of warranty suit against former Hendry Group boss Emma Hendry and related parties after they failed to comply with court orders in the case.
Equity Trustees has sued asset manager Tactical Global Management seeking millions in compensation for losses allegedly stemming from over-hedging trades.
Mayfair 101 founder James Mawhinney has sued the Australian Securities and Investments Commission and its deputy chair Sarah Court, alleging the corporate regulator defamed him in a media release issued last month.