Westpac is facing its first shareholder class action in the US following revelations that it violated anti-money laundering and counter-terrorism finance laws on more than 23 million occasions, in the first lawsuit to point the finger at the company’s executives.
Facing a class action by shareholders alleging negligence over advice to Slater & Gordon, law firm Arnold Bloch Leibler is bringing proceedings against its former client to use files in defence of the case.
Treasury Wine Estates may be hit with a shareholder class action following a recent surprise earnings downgrade that led to a drop in the company’s share price.
A US-based plaintiffs firm is planning a class action against Westpac alleging it failed to alert investors to significant lapses in its anti-money laundering and counter-terrorism finance compliance, which led to a bombshell lawsuit by AUSTRAC last year.
Melbourne-based fintech ISignthis and its directors are facing a possible shareholder class action over a December profit downgrade.
The Australian Securities and Investments Commission has suspended the Australian Financial Services licence of a Sydney-based financial services provider that ran a property investment scheme targeting retirees, which the regulator has accused of issuing ‘defective’ product disclosure statements.
Crown Resorts has successfully challenged a ruling allowing law firm Maurice Blackburn to communicate with 18 formerly jailed employees to gather evidence in its shareholder class action against the casino giant.
Shareholders of collapsed music streaming platform Guvera have filed a class action against an accounting firm seeking to recoup their losses for the firm’s alleged negligence in promoting an investment opportunity in the failed tech company.
Unfunded group members in two shareholder class actions against online fashion retailer Surfstitch have been told they are likely better off to opt out of a settlement if a judge approves $6 million in fees and a 30 per cent commission sought by the law firms and funder that brought the cases.
The lead plaintiffs in two shareholder class actions against Dick Smith can amend their case against accounting firm Deloitte, less than two months before a mammoth hearing is set to commence.