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Australia and New Zealand Banking Group Limited has agreed to pay $3 million after an ASIC investigation found it failed to provide annual reviews to wealth management customers that paid for the service.
Blue Sky Alternative Investments has asked Australia's corporate watchdog to investigate US hedge fund Glaucus for market manipulation, after a scathing report by the fund last week sent Blue Sky's stock into a tailspin and raised the prospect of a shareholder lawsuit.
The former head of childcare provider G8 Education has been slapped with multiple criminal charges for her role in an abandoned takeover bid for rival childcare company Affinity Education.
Blue Sky Alternative Investments could be facing a class action after a report by a U.S. hedge fund that found the Australian fund manager had exaggerated its assets under management and the performance of its investments, while also collecting excessive management fees.
A judge on Wednesday refused a bid by Australian mortgage aggregator Connective Group to put on hold a derivative lawsuit by a shareholder against the company's bigwigs over the sale of 25 percent of the business to Macquarie Bank, saying there were no special circumstances justifying a stay.
Corrs Chambers Westgarth has filed a shareholder class action against GetSwift alleging it provided inadequate disclosures and misled investors with its overhyped announcements about business contracts, one month after Squire Patton Boggs brought a similar suit.
Squire Patton Boggs has expanded its shareholder class action against GetSwift to include claims over statements the logistics software company made to shareholders regarding high-volume enterprise contracts.
Magic Circle firm Clifford Chance will represent Rio Tinto as it faces legal action in Australia over allegedly misleading investors about the coal reserves of a Mozambique mining company it acquired for $4 billion in 2011.
The Australian Stock Exchange has updated rules on company disclosures regarding consumer contracts, in the wake of a share suspension and investor class action against logistics software company GetSwift for "overhyped" business contract announcements.
As trial enters its second week in a landmark case against S&P Global, a judge has signed off on a settlement of a separate class action against the U.S. credit ratings agency over its alleged role in the global financial crisis.