Three AGL Energy subsidiaries have been ordered to pay $3.5 million in penalties for breaches of energy rules that led to a statewide blackout in South Australia.
A judge has signed off on a $4.7 million settlement in two investor class actions against collapsed sandalwood producer Quintis, two year after an earlier settlement was scuttled as group members kicked off an insurance dispute in pursuit of a better return.
A litigation funder has reaped $7.5 million from the sale of a 20 per cent stake in a shareholder class action against the Commonwealth Bank of Australia over the bank’s allegedly lax money laundering compliance.
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.
A judge has signed off on a $56.3 million settlement in a class action against wealth manager Colonial First State that will see Maurice Blackburn earn $14.5 million in costs, saying it was a good example of the class action regime in operation.
As it severs ties with specialist outfit Greenwoods, Herbert Smith Freehills has brought on three tax law experts as part of the firm’s plans to beef up its commercial tax practice.
The federal government said Friday it would consider the implications of an appeals court’s finding that the managed investment scheme structure was unsuited to class actions, a ruling it said was a victory for ordinary Australians and a vindication for Labor.
A judge has allowed two law firms to jointly run a consolidated shareholder class action against dairy company a2 Milk, saying the arrangement was in the interests of group members and was “not novel”.
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 given his approval to the takeover of Crown Resorts by US private equity group Blackstone.