Aged care providers tank in wake of royal commission announcement

Aged care providers tank in wake of royal commission announcement

After Prime Minister Scott Morrison announced a royal commission into Australia's aged care system the preeminent providers of the service on the ASX saw their shares take a tumble. At 12.20pm AEST Aveo is down 4.28 per cent to $2.16, Estia is down 18.3 per cent to $2.41 per share, Japara is down 14 per cent to $1.44, and Regis Health...

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ASIC to take second bite of the pie in ANZ cartel scandal

ASIC to take second bite of the pie in ANZ cartel scandal

Back in June, ANZ, Citigroup, and Deutsche Bank got caught up in a widely publicised scandal relating to alleged criminal cartel charges. The Australian Securities and Investments Commission laid charges against the banks and several senior personnel from each of the financial institutions. Today, ASIC has once again gone after ANZ fo...

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Shock claims backfire on Alan Jones in largest defamation payout in Aussie history

Shock claims backfire on Alan Jones in largest defamation payout in Aussie history

Controversial radio star Alan Jones has failed to defend the defamatory claims he made surrounding the 2011 Grantham floods, resulting in Australia's largest ever defamation payout of $3.75 million in damages. The Sydney shock jock and broadcaster for 2GB and 4BC radio was found to have defamed the Wagner family over 27 broadcasts mad...

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Slater and Gordon announces all-out attack on banks to get your super back

Slater and Gordon announces all-out attack on banks to get your super back

Slater and Gordon is launching a full-on assault on Australia's financial institutions in a campaign to secure more than one billion dollars in super from the banks. Their campaign is called Get Your Super Back and it is shaping up to be an intensive, lengthy, and expensive battle. "Slater and Gordon will take on the banks on...

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Maurice Blackburn launches $100 million class action at Woolworths

Maurice Blackburn launches $100 million class action at Woolworths

Grocery giant Woolworths (ASX: WOW) is staring down a class action potentially worth $100 million launched by law firm Maurice Blackburn. Maurice Blackburn is alleging that Woolworths mislead shareholders in 2015 by affirming a profit guidance that could not be met without adversely affecting its competitiveness. The listed grocery gi...

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APDC and NEXTDC Supreme Court stoush dissolves

APDC and NEXTDC Supreme Court stoush dissolves

The short-lived legal battle between data centre operators NEXTDC (ASX: NXT) and Asia Pacific Data Centres ('APDC') (ASX: AJD) has come to an end. The Supreme Court of New South Wales legal proceedings, lodged against NEXTDC by APDC, have come to a quiet ending as the judge decided to not make any declarations. This determinat...

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Financial advice institutions to refund over $800 million

Financial advice institutions to refund over $800 million

As the revelations from the Royal Commission continue to pour in, the Australian Securities and Investment Commission (ASIC) has revealed that, in total, Australian financial advice institutions will refund customers over $800 million in reparations over fees for no service (FFNS) programs. The big four banks (ANZ, CBA, NAB, and Westpac) ...

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Meriton slogged with $3m fine for misleading customers on TripAdvisor

Meriton slogged with $3m fine for misleading customers on TripAdvisor

The latest from the Federal Court might make you want to reconsider how much trust you place in TripAdvisor. Meriton was ordered on Tuesday to pay a $3 million fine for misleading customers on hotel review site TripAdvisor after engaging in the process of 'masking' email addresses. By 'masking' guests that the hotel ch...

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Europcar in ACCC bungle over alleged excessive surcharges

Europcar in ACCC bungle over alleged excessive surcharges

The ACCC has launched proceedings against Europcar in the Federal Court, alleging the car rental service has been hitting its customers with excessive credit and debit card charges. The court will hear that Europcar customers who used Visa or MasterCards during July and August 2017 incurred excessive surcharge fees, above what it cost the...

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AMP takes a swipe at 'independent' report claims

AMP takes a swipe at 'independent' report claims

Financial services giant AMP (ASX:AMP), in response to a damning investigation by Four Corners, has taken a swipe at suggestions that a report it commissioned last year by the AMP board could be construed as fully independent.

The report was prepared by law firm Clayton Utz on behalf of AMP in relation to allegations that AMP was issuing...

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Emanuel Exports' affiliate has export licence suspended

Emanuel Exports' affiliate has export licence suspended

A second live export company, closely affiliated with the company behind the tragic Awassi Express voyage, has had its export licence suspended. EMS Rural Exports has been denied a permit to ship the sheep to the Middle East, following considerable outrage from the public, press, and interested animal rights organisations. The suspens...

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"Bullshit": despite suspension, Emanuel Exports continues with live export of sheep

"Bullshit": despite suspension, Emanuel Exports continues with live export of sheep

Emanuel Exports has found a loophole to continue exporting live sheep from Australia despite its licence being suspended. The company behind the Awassi Express shipment that captured the nation's attention and spurred on significant national protest is attempting to use an associated company to send another load of sheep to the Middle...

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Class action against Comm Bank commences

Class action against Comm Bank commences

Phi Finney McDonald has officially commenced its shareholder class action against Australia's biggest bank in relation to alleged disclosure breaches. The claim, backed by some of the world's biggest institutional investors, is on behalf of shareholders that acquired CBA shares between 16 June 2014 to 3 August 2017, but is limited...

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It's all over red rover for Dover following ASIC undertaking

It's all over red rover for Dover following ASIC undertaking

Dover Financial Services will turn in its financial advisory licence at the end of next week, as an Australian Securities and Investment Commission (ASIC) investigation into the company's 'systematic failings' is ongoing. The financial services company, which was also subject to a Royal Commission grilling earlier this month, ...

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ASIC takes action against AMP for alleged failures relating to insurance advice

ASIC takes action against AMP for alleged failures relating to insurance advice

The Australian Securities and Investment Commission (ASIC) has taken embattled financial planners AMP to the Federal Court on Wednesday afternoon, claiming AMP financial planners were engaged in 'rewriting' conduct. The corporate watch dog alleges AMP has breached its obligations under the Corporations Act after claiming financial...

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Air NZ penalised $15 million for price fixing charge

Air NZ penalised $15 million for price fixing charge

The Australian Federal Court has penalised Air New Zealand (Air NZ) with a $15 million fine after the ACCC took legal action against a global air cargo cartel. The Court found Air NZ made and gave effect to agreements with other airlines to fix the price of fuel and insurance surcharges on air freight services from Hong Kong, and insuranc...

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Slater & Gordon refutes ABC's allegations of "claim farming"

Slater & Gordon refutes ABC's allegations of "claim farming"

Slater & Gordon (ASX: SGH) has hit back at the ABC following Sunday's report that the law firm has been engaged in the practice of "claim farming" using data obtained by online doctor booking service HealthEngine. The ABC alleged over the weekend that Slater & Gordon had been paying a marketing firm called PreLegal $...

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Emanuel Exports suspension takes industry closer to its demise

Emanuel Exports suspension takes industry closer to its demise

The live export industry is edging precariously to its eventual demise after Australia's largest live sheep exporter Emanuel Exports had its export licence suspended. The Federal Agriculture Department suspended the live export licence of Emanuel Exports as it investigates whether the exporter has been complying with animal and livest...

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Kidnapping phone scam targets Chinese students in Australia

Kidnapping phone scam targets Chinese students in Australia

The ACCC has warned Australia's Chinese community of a recurring scam that involves threats of arrest and extortion via fake kidnappings. Having already caused victims $1.15 million worth of losses, the perpetrators appear to be targeting Chinese Australians nationwide. The terrifying scam comes in two forms but mostly threatens C...

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"Cyborg justice" for Meow-Meow in the District Court

"Cyborg justice" for Meow-Meow in the District Court

Sydney biohacker Meow-Ludo Disco Gamma Meow-Meow has officially won his plight for for "cyborg justice"  in the NSW District Court. Meow-Meow, who was fined after he implanted a NSW travel card chip into his arm, says "cyborg justice has been served" after a court overturned his conviction. The biohacker claim...

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ASIC launches legal proceedings against former Quintis managing director

ASIC launches legal proceedings against former Quintis managing director

Now defunct and previously ASX listed company Quintis is back in the firing line after ASIC announced it has launched legal proceedings against former Quintis managing director Frank Wilson. The corporate watchdog will allege that Wilson failed to discharge his duties as a director in 2017. The proceedings allege Wilson failed to disc...

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College of Law acquires legal education provider CPD Interactive

College of Law acquires legal education provider CPD Interactive

In a move to strengthen its online offering, The College of Law has acquired the business operations of CPD Interactive.  CPD Interactive is an online provider of legal education and professional development and through its acquisition, The College of Law now has access to more than 120 courses facilitated through its platform. S...

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Slater and Gordon becomes fourth law firm to take on AMP in class action

Slater and Gordon becomes fourth law firm to take on AMP in class action

AMP (ASX: AMP) has been hit with a fourth shareholder class action, this time by Slater and Gordon. Slater and Gordon says it has filed proceedings against the wealth management business in the Federal Court of Australia, adding that it will act on a no-win, no-fee basis. The class action relates to the controversy that arose during t...

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Criminal cartel charges laid against ANZ, Citigroup and Deutsche Bank

Criminal cartel charges laid against ANZ, Citigroup and Deutsche Bank

The Australian Competition and Consumer Commission has confirmed that charges have been laid against ANZ, Citigroup and Deutshe Bank. Following an investigation into alleged cartel conduct by the banks relating to an ANZ institutional share placement in August 2015, the watchdog has hit the banks and  senior executives with criminal ...

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More banks facing criminal charges in relation to ANZ cartel investigation

More banks facing criminal charges in relation to ANZ cartel investigation

The Australian Competition and Consumer Commission has confirmed that Deutsche Bank and Citibank will also face criminal charges in relation to alleged cartel conduct by ANZ Bank (ASX: ANZ). The ACCC confirmed on Friday afternoon that Deutsche Bank AG is also facing criminal charges in relation to the share placement. Investments bank...

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Criminal charges to be laid against ANZ for cartel conduct

Criminal charges to be laid against ANZ for cartel conduct

One of Australia's largest banks is facing criminal charges over alleged cartel conduct related to a $2.5 billion share placement in 2015. ANZ (ASX: ANZ) is facing charges by the Commonwealth Director of Public Prosecutions over an alleged arrangement of understanding between the joint lead managers of the institutional placement of 8...

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Wilson Security hit with $740,000 penalty for failing to provide services in WA

Wilson Security hit with $740,000 penalty for failing to provide services in WA

Wilson Security has been ordered to refund 320 West Australian customers after it charged for security patrols that were not provided. Wilson was found to have breached Australian Consumer Law and was ordered to pay a total refund bill of $740,000. The company was contracted to provide internal premise security patrols for 320 co...

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Shine becomes latest class action firm to take a crack at AMP

Shine becomes latest class action firm to take a crack at AMP

Shine Lawyers (ASX: SHJ) has filed a class action lawsuit against AMP (ASX: AMP) in the Federal Court, becoming the third firm to officially launch proceedings against the financial services giant. Supported by litigation funder Augusta Ventures, Shine will argue that AMP mislead and deceived its customers over financial advice which it c...

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Bidding war incited as Maurice Blackburn joins AMP class action onslaught

Bidding war incited as Maurice Blackburn joins AMP class action onslaught

Maurice Blackburn has become the third firm to investigate a class action lawsuit against AMP, while two other law firms have officially lodged proceedings against the financial services giant. Provoking a class action bidding war, Maurice Blackburn has promised a low commission rate of 12.5 per cent as it goes toe-to-toe with rival class...

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AMP served with two class actions

AMP served with two class actions

In the fallout of the Royal Commission, AMP (ASX: AMP) has been hit with two separate class action proceedings brought on behalf of aggrieved shareholders. One claim has been filed in the Supreme Court of New South Wales by Quinn Emanuel Urquhart & Sullivan (QE) and the other in the Federal Court of Australia by Phi Finney McDonald. ...

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