ANZ is gunning for a lawsuit alleging it dismissed a former director of trading after he complained about rate-rigging to be thrown out before trial.
Facing an ASIC enforcement action over alleged breaches of Australian credit laws, payday lenders BHF Solutions and Cigno claim they did not need a licence to issue loans to hundreds of thousands of consumers.
Retail Employees Superannuation has settled a lawsuit brought by an ecological landscaper and activist over its climate change disclosures, acknowledging the need to identify the risks of climate change.
Westpac has reached settlements in two separate US class actions over the bank’s trading activity in the bank bill swap rate market and disclosures in relation to its compliance with Australia’s anti-money laundering and counter-terrorism financing laws.
A judge has raised doubts about claims of loss and damage in a class action by members of superannuation funds operated by NAB units MLC and NULIS over alleged MySuper mismanagement, as he determines a challenge to whether the case was validly brought as a class action.
A showdown over two competing class actions against AMP is set down for December, and the applicants will have to persuade the judge overseeing the cases that they should not be consolidated.
US cryptocurrency maker Ripple Labs has hit back at an intellectual property lawsuit brought by the Australian company behind the ubiquitous PayID mobile banking system, saying its PayID trade mark is neither substantially identical nor deceptively similar to the Aussie mark.
The Commonwealth Bank of Australia has been fined $150,000 after a Federal Court judge found the bank had breached the law by increasing a problem gambler’s credit card limit but that the conduct was “not systematic, deliberate or covert”.
A judge has found that auditor Ernst & Young cannot rely on the privilege against self-incrimination in a lawsuit brought over its audits of failed financial services firm LM Investment Management.
James Mawhinney, director of the besieged Mayfair Group, has lost his bid to slow down two proceedings filed by ASIC which he claims will have a “catastrophic” effect on his business, staff and investors.