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A settlement has been reached in a class action against KPMG alleging it providing a misleading expert report to copper miner Discovery Metals that was used to reject a $830 million hostile takeover bid.
The Full Court has denied a bid by Deep Investments to vary orders dismissing its case against a solicitor and six others over $10 million in alleged share trading losses, saying this would amount to allowing the investment adviser to bring a different claim.
Trader Daniel Schlaepfer and his firm Select Vantage are seeking over $10 million in damages from the Australian Securities and Investments Commission in a defamation action against the corporate regulator, a court heard Thursday on the fourth day of trial in the case.
The Commonwealth Bank of Australia, facing cross-claims by credit ratings agency Fitch in a class action alleging it gave false or misleading double A and triple A ratings to synthetic CDOs backed by Sigma Financial, told investors Fitch's withdrawal of Sigma's credit rating prior to the collapse of the $27 billion investment fund was a "technical" issue, the bank has admitted.
Trial in a shareholder class action against engineering company WorleyParsons will be heard by a new judge in late August, six months after it was unexpectedly vacated.
The Australian Securities and Investments Commission has won its bid to appoint liquidators to solvent landbanking company Aviation 3030, with a judge saying ASIC's public-interest case for the scheme's winding up was "overwhelming".
The Australian Securities and Investments Commission wants to add GetSwift's former inhouse lawyer as a respondent in its enforcement action against the logistics company, as debate rages over whether a class action against the company should be postponed.
The Australian Securities and Investments Commission made global trading firm Select Vantage "vanish overnight" from the Australian market using slanderous statements based on a lack of evidence, the NSW Supreme Court has heard.
Deloitte Touche Tohmatsu is facing claims by the lead applicants in two class actions against failed retail giant Dick Smith alleging its poor accounting practices contributed to the retailer's collapse.