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TransUrban to release toll data to win ACCC approval of WestConnex deal
Competition & Consumer Protection 2018-08-09 9:09 pm By Cat Fredenburgh

TransUrban has agreed to release detailed traffic data for its toll roads in New South Wales in hopes of winning the ACCC’s blessing of its proposed acquisition of a majority stake in the $16.8 billion WestConnex highway project.

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Iluka Resources says shareholders didn’t read the fine print
Class Actions 2018-08-09 11:25 am By Cat Fredenburgh

Iluka Resources has shot back at claims in a shareholder class action that it made misleading statements about projected sales volumes, saying the statements were accompanied by extensive disclaimers about its ability to predict future sales.

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Politician charged with insider trading of Australian biotech stock
Securities 2018-08-08 11:58 pm By Cat Fredenburgh

A New York politician who was one of the earliest supporters of President Donald Trump has been indicted on charges of insider trading related to his investments in Australian biotech firm Innate Immunotherapeutics.

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Battle of the experts continues in Queensland flood class actions
Class Actions 2018-08-08 10:26 pm By Cat Fredenburgh

In a case that hinges on the evidence of expert witnesses, the judge overseeing the class action over the 2011 Queensland floods has partly upheld an objection to a revised report by the state of Queensland’s expert regarding an error in the flood-modelling by the plaintiff’s expert witness.

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High Court won’t hear Prysmian appeal of $3.5M cartel fine
Competition & Consumer Protection 2018-08-08 2:46 pm By Cat Fredenburgh

The High Court has denied Prysmian Cavi E Sistemi’s bid for special leave to appeal a $3.5 million fine for allegedly engaging in cartel conduct, a victory for the ACCC in its long-running case against the cable maker.

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Eclipx may face shareholder class action
Class Actions 2018-08-08 9:42 am By Cat Fredenburgh

Eclipx group is looking at a possible shareholder class action following recent drops in its share price after it disclosed that its published profit growth forecasts need to be revised downwards.

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Viterra wins Cargill sale docs after mid-trial revelation
Trials 2018-08-07 9:07 pm By Cat Fredenburgh

Cargill has been ordered to turn over what it describes as “highly confidential” documents related to the possible sale of its malt business, a new revelation in the complex trial over claims Viterra fraudulently concealed crucial information when it sold malt producer Joe White Maltings to Cargill Australia in 2013 for $420 million.

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ASIC to embed corporate cops in big four banks
Financial Services 2018-08-07 2:02 pm By Cat Fredenburgh

The Australian Securities and Investments Commission will get a $70.1  million boost to fight corporate wrongdoing as part of a funding package that includes a plan to embed ASIC staff in the big four banks and AMP.

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DQ’d exec appeals ruling that Gadens email was proper service
Securities 2018-08-07 12:53 pm By Cat Fredenburgh

A Perth businessman has filed an appeal of a judge’s ruling that an email forwarded by a Gadens lawyer from ASIC alerting him that he had been disqualified from serving as a director constituted proper notification.

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ACCC appeals suppressed ruling in Cascade Coal cartel case
Competition & Consumer Protection 2018-08-07 10:08 am By Cat Fredenburgh

The ACCC is appealing a ruling dismissing its cartel case against Cascade Coal that alleged the company reached an agreement with rival Loyal Coal in the 2009 tender process for mining exploration licences in the Bylong Valley, NSW.

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