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The Australian Securities and Investments Commission has scored a victory in its long-running case against GetSwift, with the Federal Court finding the company and its directors breached the Corporations Act and ASIC Act through their "public relations-driven approach" to announcements on the Australian Stock Exchange.
A Canberra property developer that misled investors about GST on its apartments does not have to pay compensation to the lead applicant in a class action against it, an appeal court has found.
Logistics company GetSwift's settlement of a shareholder class action will see group members share in $1.5 million cash plus access to further funds and revenue raised by the company over a three-year period.
A judge overstepped in throwing out a class action against two National Australia Bank units over alleged MySuper mismanagement because of a carveout in the Victorian Supreme Court Act which bars class actions involving trust property, an appeals court has heard.
US singer Katy Perry can withdraw an admission in a trade mark infringement case that licensing her brand to Target and Myer constituted use, with a judge finding the admission was “not consistent with current law”.
Insurance broker JLT Risk Solutions has opposed an application by a group of NSW councils to add misleading and deceptive conduct allegations to a long-running class action, claiming the changes would force the vacation of a five-week trial due to start in October.
Six of the world's largest car makers have agreed to pay $52 million to settle class actions accusing them of selling cars with deadly Takata airbags.
US singer Katy Perry is seeking to withdraw an admission that licensing her trade mark to Target and Myer constituted use, saying it was plainly “wrong” after the Full Federal Court held an owner who authorised use of a mark was not liable for direct infringement.
AMP has hit back at fees for no service court proceedings brought by ASIC, arguing it was legally entitled to charge customers premiums and advice fees for life insurance after they died.
ASIC has agreed to provide Westpac with the transcript of a compulsory examination of one of its traders in court proceedings accusing the bank of insider trading in relation to the $16 billion privatisation of electricity provider Ausgrid.