A judge has signed off on a $7.2 million penalty against Dixon Advisory after the company admitted to ASIC allegations that its advisors failed to act in its clients’ best interests by recommending they invest in a risky US-based real estate investment fund.
The entity that employs the workforce of the On The Run convenience store chain has agreed to pay $5.8 million to settle a class action accusing it of underpaying over 8,000 workers over a six-year period.
Failed asset manager Blue Sky Alternative Investments has been served with a class action over the company’s alleged overstated financial reports between 2016 and 2018 that also targets nine former directors as well as auditors Ernst & Young.
The liquidator of Fogo Brazilia has lost a bid for a gross sum costs order against the restaurant chain, after a judge found that legal representatives Piper Alderman did not appear to appropriately delegate, with hours of grunt work performed by a partner at the firm.
A shareholder class action against Ernst & Young over its alleged inflation of assets owned by sandalwood producer Quintis has argued the accounting firm should be allowed only one expert witness, who should collaborate with a competing expert chosen by the investors.
The Australian Securities and Investments Commission will not seek to enforce a $7.2 million penalty agreed to by Dixon Advisory after admitting to the regulator’s allegations that it failed to act in its clients’ best interests.
Irish insurer Zurich Insurance has refused consent for a class action over a defective New Zealand apartment block to proceed in the NSW Supreme Court as it mulls a High Court challenge to the case.
Piper Alderman has recruited a former Mills Oakley partner to join its commercial litigation practice in Perth.
Irish insurer Zurich Insurance has lost its appeal seeking to shut down a class action filed against it in the NSW Supreme Court over a defective New Zealand apartment block.
A judge has ordered that a competition class action against Queensland power companies Stanwell and CS Energy be made open to all energy consumers in the state, saying it was not a “plain vanilla” commercial class action.