MinterEllison has resolved claims by two directors of failed Solar Shop Australia alleging the law firm, which was retained by the company to advise on a buyback scheme involving $15 million in shares owned by founder Adrian Ferraretto, breached its duty of care.
The judge weighing a record settlement in multiple class actions against S&P Global over toxic financial products said Tuesday there was “no way” he would sign off on the deal while it stipulated that all funds be returned to the ratings agency in the event the settlement amount is disclosed.
The litigation funder underwriting a shareholder class action against BHP Billiton over the company’s Brazilian mine disaster is a corporation created by two major US plaintiffs’ firms with the sole purpose of backing the Australian case.
AMP has hit back against claims in the first of multiple class actions it faces, saying its practice of charging fees for no service did not warrant disclosure to shareholders. And despite sacking its GC for the extent of his exchanges with Clayton Utz over a report into the practice, the company now says the number of interactions was exaggerated.
A former executive of hospital operator Healthe Care Pty has been charged with three counts of insider trading, the Australian Securities and Investments Commission said Monday.
Macquarie Bank has been hit with a third lawsuit by financial advisers alleging the bank broke the law by paying them solely in commissions, this one by a dozen Brisbane-based advisers seeking more than $3.25 million in regular wages.
Boutique law firm Kalus Kenny Intelex has escaped contempt of court charges sought by the corporate watchdog alleging it breached orders freezing the assets of clients allegedly involved in a binary options scam.
A barrister representing Radio Rentals in a class action alleging its rental practices violated responsible lending laws has told a Federal Court judge that repeated delays by the Maurice Blackburn-led class could damage the company.
The Australian Competition and Consumer Commission has sued Aurizon and Pacific National, claiming a proposed $225 million deal over a major rail freight business in Queensland would have substantially lessened competition.
In a judgment signing off on Apple’s $9 million settlement with the ACCC over the tech giant’s repair policies, a Federal Court judge has said the case is a “paradigm example” of the problem with how penalties are assessed under the Australian Consumer Law.