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Five investment banks facing a class action for their alleged rigging of foreign exchange rates have slammed the "unclear" and "incredibly vague" case, saying it contains "literally trillions" of possible variations of the cartel agreement allegedly entered into.
A shareholder class action against Vocation that has spanned five years and spawned multiple cross claims against the failed training company's auditor, law firm and individual directors, has reached an in-principle settlement.
A seven-week trial in ASIC's misleading conduct case against Rio Tinto may have to be postponed after two executives of the mining giant raised concerns that COVID-19 could impact their ability to appear as defendants in the case.
The Virgin Australia administration continues to boost billables at the top end of town, with a short list of “well-funded” buyers revealed on Monday and an intense four weeks ahead as the bidders and their law firms scramble to make binding offers by the mid-June deadline.
The Australian Securities and Investments Commission has won its bid to use evidence from US proceedings in its case against Rio Tinto alleging the mining giant misled shareholders about a Mozambique mining company purchased for US$4.2 billion.
The Australian Securities and Investments Commission is seeking evidence from US proceedings in its case against Rio Tinto alleging the mining giant misled shareholders about a Mozambique mining company purchased for US$4.2 billion.
A judge has ordered a group of banks facing a competition class action over alleged foreign exchange rate-rigging to hand over documents they produced as part of settlement agreements in class actions in the US and Canada.
The Australian Securities and Investments Commission has promised it will stay away from the depositions of two former Rio Tinto executives in proceedings underway in the US, as it pursues a parallel case over allegedly misleading market statements the mining company made about the reserves of a $4 billion coal acquisition.
The Australian Securities and Investments Commission claims Rio Tinto's former CFO was referring to the write down for the reserves for two coal assets that were part of a $4 billion acquisition of Rio Tinto Coal Mozambique when he sent an email to the company CEO in January 2012 that contained the phrase "worse by far than expected".
The Australian Securities and Investments Commission has broadened its case against Rio Tinto and two former executives and is seeking extra penalties.