A former AMP general counsel responsible for preparing the financial giant for the banking royal commission has launched a $2.7 million lawsuit alleging “hostile, aggressive and intimidating behaviour” by superiors in response to formal complaints she made about the company’s fees for no services practices.
A judge has ruled that department store Myer engaged in misleading or deceptive conduct and breached its continuous disclosure obligations when it failed to correct its “inflated” 2015 net profit forecasts, but said shareholders may not have suffered any loss flowing from the breaches, in a monumental decision that also found investors do not always need to prove direct reliance on misrepresentations in claiming damages in class actions.
Quintis founder Frank Wilson has won his bid for unredacted transcripts of ASIC examinations with six former directors of the failed sandalwood company.
The High Court has granted a Nigerian agent tricked into terminating his contract with international bank note manufacturer CCL Secure special leave to appeal a Full Federal Court judgment slashing a $65 million award in his favour.
Responding to a class action on behalf of over 250,000 car owners, auto giant Toyota has admitted issues with filters in three of its diesel vehicle models but says drivers who failed to respond to warning lights in their cars could not clam damages for any breaches of quality guarantees.
Italian coffee manufacturer Lavazza has hit back against an infringement case brought by Australian rival Vittoria over two Oro trade marks, saying Vittoria’s rights over the marks should be revoked and claiming four decades of prior continuous use of its own unregistered mark.
A judge’s decision refusing to approve a $42 million settlement in a shareholder class action against Murray Goulburn because of a “too high” funder’s commission has set the stage for a showdown over the power of courts to alter funding agreements, a battle potentially more consequential than the fight over common fund orders now before the High Court.
A judge has briefly stayed his $76.6 million judgment against IOOF subsidiary Australian Executor Trustees over the sale of a timber plantation by the collapsed Gunns Group as AET weighs an appeal of the ruling, which dismissed its cross-claim against law firm Sparke Helmore.
Lawyers behind four quasi representative proceedings against the liquidators of collapsed HIH Insurance have launched a bid to recoup the costs of their successful 18-year-long legal battle.
A judge has dismissed three proceedings by shareholders against the liquidator of failed global financial services firm Babcock & Brown, in a finding that highlights “serious problems” with market-based causation and may have ramifications for securities class actions.