A former JPMorgan managing director has said the three investment banks at the centre of an alleged cartel made individual decisions to trade “gently” in ANZ shares but were conscious of their fellow underwriters’ risks following a botched share placement in 2015.
Pharmaceutical ingredient producer Alkaloids of Australia has pleaded guilty to cartel conduct over the supply of a key chemical found in generic stomach cramp drugs.
The Australian Securities and Investments Commission has asked a court to hold Mayfair 101 director James Mawhinney in contempt, saying he has breached a 20-year ban on raising funds.
Eight companies in the Dubai-based Emirates Group have lost a court bid to recoup more than $10.5 million paid to Australian staff during the COVID-19 pandemic on the mistaken belief that the money would be repaid as part of the federal government’s JobKeeper subsidy scheme.
A judge has expressed hesitation about a $750,000 penalty proposed by the Australian Securities and Investments Commission in its misleading advertisement case against $5.15 billion credit fund La Trobe Financial Asset Management, calling the amount “very, very modest”.
The Australian Securities and Investments Commission has hit beleaguered mining firm Griffin Coal with criminal charges over its alleged failure to lodge annual financial reports for 2019 and 2020.
The High Court has rejected Volkswagen’s special leave application to challenge a record $125 million penalty for selling cars with a defeat device that allowed them to cheat on emissions tests.
Woolworths has agreed to pay $1.75 million in Adero Law’s legal costs as part of a settlement of an underpayments class action which will see group members recoup any amounts they are owed in a separate proceeding brought by the Fair Work Ombudsman rather than the class action.
Logistics company GetSwift says it is considering an appeal of an 859-page judgment which lambasted the company and its directors’ “public relations-driven approach” to announcements on the Australian Stock Exchange.
One of the world’s leading audio branding companies has agreed to amend its contract terms, which penalised customers for cancelling within a 42-day period of their contract ending, following an investigation by the Australian Competition and Consumer Commission.