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The trustee for Active Super has been ordered to pay a $10.5 million penalty for misleading members about its investments in gambling, oil tar sands and Russian companies.
The trustee for Active Super has argued against a $13.5 million penalty proposed by ASIC for greenwashing, saying the tax burden would impact on its members.
A competition class action against Stanwell and CS Energy has been tossed, with a judge finding the power companies' conduct was legitimate “profit maximisation behaviour”.
The corporate regulator is on a winning streak in its greenwashing cases, with a judge rejecting Active Super's attempt to qualify its “unequivocal” statements about limiting its investment in companies connected to gambling and coal mining.
AMP has lost its bid for soft class closure in a class action over allegedly excessive superannuation fees, with a judge finding the court should exercise “real caution” when class closure is opposed by the applicant.
Queensland power company Stanwell has flagged a possible ‘no case to answer’ submission in an upcoming competition class action trial that would seek to shut the case down mid-trial, with a judge saying it was “highly unlikely” to succeed.
EFTPOS provider Tyro has secured a $10 million settlement in a lawsuit accusing a unit of Canadian firm Lightspeed of violating a restraint of trade clause by encouraging Tyro customers to adopt its own competing payment system.
Grocon has lost yet another argument over documents in its lawsuit against Infrastructure NSW over a stalled $2 billion Central Barangaroo development project, with a judge rejecting its bid to access material over which the government agency claimed privilege and public interest immunity.
EFTPOS provider Tyro has won a year-long injunction against an authorised representative that pushed competing payment system Lightspeed on its customers, in breach of a restraint of trade clause in their contract.
Grocon has taken another hit in its $270 million lawsuit against Infrastructure NSW over a stalled $2 billion Central Barangaroo development project, with a judge rejecting its claim of privilege over more than 15,000 documents.