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Commonwealth Bank of Australia will pay $700 million to settle claims of lax anti-money laundering oversight.
The former chief executive of Australian Bight Abalone has been sentenced to three-and-a-half years in jail for making misleading statements to board members and potential investors about the company's abalone farming operation.
Class action lawyers should be able to enter into contingency fee arrangements, the Australian Law Reform Commission said Thursday as part of proposals to reform the country's much maligned class action regime.
The litigation funder behind the Federal Court's precedential ruling that established the first common fund order in an Australian class action has secured a $30.75 million payout in the case.
Westpac Banking Corp. engaged in unconscionable conduct when it traded in bank bills in an attempt to influence the benchmark Bank Bill Swap Rate on four occasions, a Federal Court judge ruled Thursday.
A solicitor caught up in a lawsuit over alleged share trading losses has lost his bid to have misleading and deceptive conduct claims brought against him dropped.
Boutique law firm Phi Finney McDonald has been chosen among three competing cases to lead a shareholder class action against GetSwift.
A decision on the fate of three class actions against logistics software company GetSwift is set for Wednesday, and counsel behind the competing cases aren't the only lawyers waiting with baited breath.
China-based food retailer Winha Commerce has secured an interim court injunction barring the Australian Stock Exchange from delisting the company after the exchange issued queries to all Chinese listed companies about problems converting the renminbi.
A judge overseeing a trial against S&P Global over its ratings of synthetic collateralised debt obligations has tossed the company's damages expert, saying she lacked sufficient expertise to provide an opinion on the value of the instruments.