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ASIC will not appeal a Federal Court decision tossing the majority of its case against former Tennis Australia director Harold Mitchell and accusing the regulator of "confirmatory bias" in bringing the case, but has foreshadowed fresh claims related to allegedly inconsistent statements given during its investigation.
Convenience store chain 7-Eleven has asked the High Court to find courts do not have the power to make common fund orders at settlement or judgment in a class action, one year after the High Court ruled common fund orders could not be made in the early part of a representative proceeding.
Treasury Wine Estates has accused plaintiffs law firm Maurice Blackburn and barrister Guy Donnellan of "taking advantage" of their privileged position by using evidence discovered in a settled class action to file a second case against the wine maker.
The Federal Court has ordered former Tennis Australia director Harold Mitchell to pay a $90,000 penalty after a "narrow" win for ASIC in its case over the domestic broadcast rights to the Australian Open.
The High Court majority's reasoning in the decision nixing common fund orders at an early stage of a class action leads "inexorably and inevitably" to the conclusion that there is no power to make such an order at any time in a proceeding, counsel for 7-Eleven has told an appeals court.
The Commonwealth Bank of Australia has been fined $150,000 after a Federal Court judge found the bank had breached the law by increasing a problem gambler's credit card limit but that the conduct was "not systematic, deliberate or covert".
Telstra has suffered a defeat in its lawsuit accusing competitor Singtel Optus of violating consumer laws with ads claiming it is "covering more of Australia than ever before", with a judge calling Telstra's allegations that the ads implied a comparison with other telcos "strained and fanciful".
Mining giant Glencore has won its appeal over access charges to Port of Newcastle shipping channels used to export coal from the Hunter Valley.
The Commonwealth Bank of Australia has denied that it received any benefits through the sale of its Essential Super product, rejecting claims by Australian Securities and Investments Commission that it breached the conflicted remuneration provisions of the Corporations Act.