Infrastructure services company Downer EDI has been hit with a class action after revealing “accounting irregularities” that sent its share price tumbling.
A shareholder class action against Medibank has claimed it did not disclose “serious deficiencies” in its cybersecurity measures, including failing to implement security measures such as multi factor authentication, causing investors to buy shares at inflated prices.
Westpac has hit back at a bid by ASIC to add an allegation to the regulator’s insider trading case that hinges on the bank providing financial services when it traded on the morning of a $16 billion deal to privatise electricity provider Ausgrid.
Australia’s largest private health insurer Medibank has been hit with a shareholder class action in the wake of a massive cyberattack that left the data of 10 million customers exposed.
The corporate watchdog has commenced a probe into ASX’s handling of the CHESS replacement program, including in relation to possible continuous disclosure breaches and misleading or deceptive conduct.
Beauty giant McPherson’s has denied ASIC’s claims that it misled the market and breached its disclosure obligations in 2020, arguing that a document showing sales of its Dr LeWinn’s line were down by $21 million was a draft that couldn’t have been used to revise a financial forecast.
In a class action long delayed by a battle over foreign shareholders, BHP Group has finally filed a defence, denying it misled shareholders over a failed Brazilian dam and saying knowledge about the risk of collapse cannot be imputed to the Melbourne-headquartered energy giant.
The insurers of Blue Sky Alternative Investments are fighting a bid to be joined to a consolidated investor class action against the company and its auditor, EY.
Downer EDI is facing a possible shareholder class action after the construction giant revealed accounting irregularities had caused it to overstate its revenue by as much as $40 million.
Tesla Motors Australia former director Kurt Schlosser has been given a suspended sentence for trading in shares of a lithium supplier based on insider information.