A judge has consolidated competing shareholder class actions against builder Lendlease brought by rival plaintiffs law firms, but has rejected the firms’ bid to jointly run the litigation and says one of them must go.
Johnson & Johnson did not adequately warn of the risks of its pelvic mesh implants and is liable to pay damages to thousands of Australian women who suffered severe injuries from the devices, a judge has ruled in a long awaited decision in a class action launched more than seven years ago.
Shareholders of collapsed steel and mining giant Arrium have won the OK to question a one-time director over possible class action claims that former officers misled the market and that auditor KPMG was negligent in preparing a healthy financial report just two years before the company went under.
Qube has filed a misuse of market power case against the operator of the Port of Newcastle for allegedly forcing the logistics giant to pay for equipment it needs to provide dry bulk unloading services at the port.
The National Australia Bank and insurer MLC have agreed to pay $49.5 million to settle a class action over allegedly worthless credit card insurance.
Westpac has been hit with a lawsuit by AUSTRAC for its alleged “systemic” failure to comply with anti-money laundering and counter terrorism finance laws.
Wealth management company Clime Capital and its CEO have been sued by a former chief investment officer who claims he was fired after complaining about a conflict of interest within the firm.
The Commonwealth Bank of Australia’s insurance division, CommInsure, has pleaded guilty to 87 criminal charges that it hawked life insurance products in unsolicited telephone calls, but wants credit for the early plea.
The National Australia Bank has admitted to most of the violations alleged in the Australian Securities and Investments Commission’s case over the bank’s $24 billion scandal-ridden ‘Introducer’ loan referral program.
Rio Tinto subsidiary Technological Resources has successfully challenged a decision by IP Australia to reject a patent application for a method of separating mined material, with a judge finding the claimed invention was not a collection of mere working directions as a delegate had found.