The Australian and New Zealand Banking Group has hit back at allegations by its former head of money markets that he was sacked for making complaints about sexual harassment by senior managers at the bank and false reporting to the prudential regulator.
The Australian Securities and Investments Commission has brought action against Harvey Norman over allegedly misleading ads about its interest-free finance.
Fintech Humm has admitted to making “misrepresentations” to Japanese bank SMBC over allegedly worthless receivables linked to Forum Finance but has denied it was negligent, claiming a Forum Group unit should share the burden of paying any damages in the $33.6 million lawsuit.
Investors in Mayfair Group’s collapsed IPO Wealth Fund are set to recoup only a fraction of their alleged $67 million losses in a best-case settlement of a class action alleging the fund’s trustee misled unit holders.
Embattled investment firm Linchpin Capital has sued auditors Grant Thornton and Moore Stephens for signing off on the compliance plan for a registered fund that allegedly used investor money to advance the company’s business interests and line its directors’ pockets.
Two former executives of defunct electronics retailer Dick Smith have asked the High Court to hear their challenge to a $11.8 million damages award for approving a dividend payment the company could not afford.
The Australian Securities and Investments Commission has suffered a defeat in proceedings alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, with a judge finding the regulator “ignored the circumstances” in which the product was distributed.
A judge has suggested that financial services giant AMP bring an application for summary dismissal of part of a class action over allegedly excessive insurance premiums, questioning the basis for the claims.
A Queensland lawyer who sold unlawful payday loans through a sham diamond trade has lost a battle to renew his practicing certificate, with an appeals court tossing as baseless his claim that he was the victim of autism discrimination.
A judge has found that a 60 Minutes broadcast by Nine, but not a related article, carried defamatory meanings about Euro Pacific Bank boss Peter Schiff, saying the broadcast’s use of ominous music and shadowy figures invited judgment from viewers.