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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.
The government of India has overturned a finding that it couldn’t dodge a $111.3 million arbitral award in a dispute with three Mauritian companies, with an appeals court finding it did not waive foreign state immunity in the case.
Class action settlements leaped in value last year, with three settlements topping the $200 million mark.
Hino Motors has agreed to pay $87 million to settle a consumer class action alleging it misrepresented that its vehicles met Australian emissions and road standards over a 20-year period.
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.
CBA has attacked two failed class actions' "misguided" appeal, arguing that requiring companies to disclose incomplete information to shareholders would distort the market.
The Full Court has heard that a judge's finding on materiality in two failed shareholder class actions against CBA could have “troubling” repercussions for insider trading cases and must be overturned.
Two failed class actions against CBA claim a judge used a “far too onerous test” for materiality in deciding whether the bank should have told the market about deficiencies in its anti-money laundering systems.
ASIC wants the Full Court to overturn a finding that Noumi waived privilege over a PwC report produced under a voluntary disclosure regime, arguing the regime benefits the public in making investigations more efficient.
A judge has refused to stay a fight between the tax office and software company Oracle over royalties, finding determination of the dispute will guide 15 other cases.