Securities
Class action fights Worley’s High Court appeal, says proof ‘overwhelming’
A shareholder class action that succeeded in the Full Federal Court has argued that Worley's appeal to the High Court should be rejected, saying that its proof regarding market-based causation was “overwhelming”.
KPMG
ASIC reveals 3 KPMG probes, 500 audit complaints against Big Four
The Australian Securities and Investments Commission is reviewing 551 audit-related complaints against KPMG, PwC, Deloitte and EY as part of surveillance triggered by the recent whistleblower scandal.
Financial Services
‘All profit, no responsibility’: Diversa grilled over First Guardian
Superannuation trustee Diversa has been grilled by a parliamentary committee for its refusal to admit failures over the now defunct First Guardian fund and its continued defence of the corporate regulator's $240 million lawsuit.
Financial Services
ASIC remains ‘concerned’ about private credit market
As residential developer Bathla struggles to secure more funds to stay afloat, the Australian Securities and Investments Commissionr told a senate committee hearing it had been concerned about the private credit market for the past 24 months.
Competition & Consumer Protection
Smart Trike can’t withdraw admissions in Target suit after lawyers’ error
A judge has rejected ride-on toy maker Smart Trike's bid to withdraw admissions in a dispute with Target due to errors by its lawyers, saying the company had failed to adequately explain how the admissions came to be made and repeated in three versions of its defence.
ACCC
Judge scolds parties over conferral in ACCC price-fixing case
A judge has scolded the parties in a price-fixing case against Downer EDI's Spotless and Ventia for failing to confer long enough to finalise three critical documents ahead of trial.
Defamation
Ex-Demons chair sues Nine over defamation coverage
Former Melbourne Demons chair Glen Bartlett is suing Nine for defamation over its coverage of a settlement in separate defamation proceedings he brought against club president Kate Roffey.
ACCC
ACCC clears Peter Warren’s Wakeling acquisition with divestitures
The ACCC has approved Peter Warren Automotive's acquisition of Wakeling Automotive Group’s new car dealerships after it agreed to divest eight sites amid the regulator's concerns about competition in Sydney's Macarthur region.
Appeals
Obeids file appeal after judge tosses tax cases
Members of the Obeid family have appealed a judge's "draconian" decision to dismiss their long-running tax cases due to their failure to comply with court orders.
Defamation
Ex-Spotlight producer loses bid to gag Justice Michael Lee
A judge has rejected former Spotlight producer Taylor Auerbach's bid to restrain Federal Court Justice Michael Lee from making further public comments about the Bruce Lehrmann defamation case, after the judge spoke about the case in an interview with reporter Joe Aston.
