ANZ has won access to documents the bank claims are crucial to its defence in a high stakes criminal cartel case, but the Australian Securities and Investments Commission has flagged a possible appeal of the ruling.
The funder behind the recently resolved shareholder class action against teleco Vocus will ask a judge to make a common fund order at a hearing to approve a $35 million settlement of the case, the first common fund order since the High Court appeared to put the kibosh on them.
A class action brought against 7-Eleven claims the convenience store chain ordered franchisees to purchase goods from supplier C-Store so that 7-Eleven could meet its obligation under a contract with the Metcash-owned supplier.
ANZ is seeking information on whether the ACCC put pressure on ASIC to not pursue proceedings against JP Morgan over a $2.5 billion share placement that is at the centre of a closely watched criminal cartel case, saying the matter raised a “serious question” about potential abuse of power by the regulators.
The entrepreneur who funded one of two settled Murray Goulburn class actions will defend his $10.5 million cut of the $37.5 million settlement, a commission that is under scrutiny by a contradictor appointed by the judge overseeing the case.
A year after Commissioner Kenneth Hayne released his scathing report, companies in the financial services sector are still facing fresh class actions over conduct aired at the banking royal commission, and the pace has even picked up in recent months.
Two National Australia Bank units have been hit with a class action alleging they violated their duties as superannuation trustees by allegedly failing to transfer members to funds with lower fees.
Bupa has launched court action to block a directive by the Aged Care Quality and Safety Commission as the aged care provider battles a separate case by the ACCC over payments allegedly charged to residents for services they did not receive.
The lead applicant in a class action against 7-Eleven has appealed a ruling that denied its bid to block the convenience store chain from seeking litigation releases from franchisees upon renewal of their contracts.
Jet builder Bombardier has lost its appeal of a ruling by the Western Australia Supreme Court that it has jurisdiction to hear a multimillion dollar case brought by the company of WA billionaire Tim Roberts over the sale of aircraft to wealthy Australians.