The law firm that lost the first ever application for a group costs order in class actions against ANZ and Westpac has indicated it will revive its bid, tweaking a retainer agreement with group members in hopes of winning the court’s approval this time.
Macquarie Bank has denied liability for a financial adviser’s theft of $2.9 million in customer funds, which the Australian Securities and Investments Commission alleged was caused by the bank’s failure to monitor third-party withdrawals.
The Victorian Legal Services Board and Commissioner has suspended wealth guru Dominique Grubisa’s law licence, saying she is “not entitled to engage in legal practice anywhere in Australia” and could face further regulatory action.
The former general counsel of UK-based transit payment provider Littlepay was dismissed because her legal support was “problematic”, the fintech claims in response to allegations she faced bullying and discrimination upon returning to work after giving birth.
Keybridge Capital has sued WAM Active seeking declarations that a meeting of shareholders in the Wilson Asset Management subsidiary was validly held and a resolution appointing Keybridge’s Nicholas Bolton to its board was passed and effective.
Despite previously remarking that the penalty was “a bit light on”, a judge has ordered Squirrel Superannuation to pay $55,000 for false and misleading marketing linked to property investment for investors with self-managed superannuation funds.
Salter Brothers has won its lawsuit against former Hendry Group CEO Emma Hendry alleging the firm was misled into investing millions of dollars into the investment firm in 2019.
Former Commonwealth Bank subsidiary Avanteos Investments has been slugged with a $1.7 million penalty after pleading guilty to charges it failed to update disclosure statements on products that continued to deduct adviser fees from accounts of dead superannuation members.
A judge has granted ASIC a hotly contested extension of time in appeals brought by Mayfair Group and founder James Mawhinney after a judge slapped the investment group with a $30 million penalty.
The law firm that’s running a shareholder class action against payment processing company EML will seek a group costs order for a 30 per cent cut of the suit’s proceeds.