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Mayne Pharma has secured an extension of the deadline for securing Foreign Investment Review Board approval of its $672 million tie-up with US drug maker Cosette.
Cosette plans to appeal a ruling that rejected its bid to terminate an agreement to merge with Mayne Pharma, as the US drug company also refuses to agree to conditions needed to win Foreign Investment Review Board approval for the tie-up.
Mayne Pharma has won a dispute with US drug maker Cosette over the termination of a $672 million merger agreement, with a judge finding Mayne did not breach its continuous disclosure obligations by failing to disclose a letter from the US FDA sooner.
A judge has dismissed a class action applicant’s claim that he was underpaid as a University of Sydney postgraduate student, but left for another day the question of whether the court should also make orders binding group members.
Resolving a split between courts, the High Court has confirmed that judges have power to make soft class closure orders, which require class action members to register before mediation to participate in any resulting settlement.
A $43 million settlement in a class action alleging Noumi misled investors about its inventory is fair and reasonable in light of confidential information about the food company's financial position, a court has heard.
A finding that Noumi's production of a PwC report to ASIC didn't constitute waiver of privilege provides clarity that voluntary disclosure agreements can protect confidential information, but care must still be taken, lawyers say.
Noumi and auditor Deloitte will pay $43 million to resolve a class action alleging the company misled investors about its inventory, and the class action will make a play for a $5 million penalty agreed to in ASIC proceedings.
An appeals court has overturned a finding that food company Noumi waived privilege over a PwC report commissioned by Ashurst, which it produced to ASIC under voluntary disclosure.
Hitting back at the regulator's claims of dodgy sales promotions, Coles and Woolworths say price increases were the result of real cost pressures, and subsequent discounts were not illusory.