Venture capital firm EVP has added 20 parties to a lawsuit seeking to recoup its $10.4 million investment in Strongroom AI, as a judge extended freezing orders against directors of the med-tech start-up.
Online mattress retailer Emma Sleep has admitted to misleading consumers about the sale price for mattresses, but a court has found its German parent company is not on the hook because its executives did not give directions to the Australian unit.
The judge hearing the ACCC’s price-fixing case against Downer EDI’s Spotless and Ventia has proposed an initial hearing to determine if the companies are in competition, saying he won’t let the case become “totally unwieldy”.
In the ACCC’s price-fixing case, infrastructure services company Ventia has joined with Spotless in arguing the companies were not in competition, and says it was the Department of Defence that arranged for the providers to talk.
Downer EDI subsidiary Spotless has rejected allegations it engaged in price-fixing with Ventia on defence contracts, saying the facilities services companies were not in competition with each other.
A unit of collapsed start-up StrongRoom AI has warned creditors of its parent company that recent freezing orders need to be tweaked to allow it to continue trading, or there may be little money left to argue over.
A judge hearing two enforcement cases by regulators against embattled casino operator Star Entertainment has flagged the potential appearance of bias if he continues to preside over both proceedings.
A key issue in the ACCC’s price-fixing case against Downer EDI’s Spotless and Ventia is likely to focus on whether the facilities services companies were in competition, a court has heard.
AUSTRAC has taken The Star to task for making statements that are inconsistent with admissions the casino has made in the regulator’s case over its alleged failure to comply with its money laundering obligations.
A judge has ordered credit card giant American Express to pay $8 million in ASIC’s first-ever case over design and distribution obligations, but has criticised the recently enacted provisions as being “poorly drafted”.