The firm running the class action against Fitch Ratings over SCDO products has been given the go ahead to add claims of fraud and deceit after lawyers allegedly unearthed a hidden mathematical table the agency used in assigning ratings to the toxic financial products.
Lawyers in the turf war over five competing AMP class actions have agreed to a temporary peace accord after the battleground edged close to the realm of the absurd, with a threatened anti-anti suit injunction being met with calls for an anti-anti-anti suit injunction.
ASX-listed Servcorp has settled court action by the consumer watchdog over unfair terms in its small business contracts that shielded the office space provider from liability and gave it unilateral power to terminate agreements with customers.
A Sydney lawyer accused in a class action of conspiring with notorious conman Peter Foster in a fraudulent sports betting scheme that left investors $29 million out of pocket was taken in by Foster’s “psychological brilliance”, her barrister told a court Thursday.
Australia is not the haven for class actions that critics have claimed, according to a new report that shoots down the notion that the country is just behind litigation-happy US when it comes to targeting corporations in court.
Online bookmaker Sportsbet has secured an interim injunction against Crownbet that temporarily blocks its rival from plans to rebrand its betting company Sportingbet.
Mergers of major electricity generators would be blocked and the energy regulator given more power to combat market manipulation under sweeping reforms to reduce rising energy prices released by the consumer watchdog Wednesday.
An Adelaide nail salon boss engaged in an “elaborate sham” to conceal the underpayment of two migrant workers by creating false time sheets, a court ruled Tuesday in fining the employer and his company $130,000.
Multiple class actions against troubled sandalwood oil producer Quintis will soon compete to stay alive after a court heard Tuesday the company would bring an application to stay or consolidate the cases.
The Australian Securities and Investments Commission wants documents from Westpac Banking Corp. detailing how it disciplined rogue traders, including Colin ‘the Rat’ Roden, at the centre of a scandal to influence the benchmark Bank Bill Swap Rate.