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Gaming company Light & Wonder has been hit with a securities class action over disclosures about its Dragon Train poker game, after an employee's theft of rival Aristocrat's trade secrets led to litigation that settled for $190 million.
Gaming company Light & Wonder will pay $190 million to settle Aristocrat’s litigation in Australia and the United States alleging it misappropriated trade secrets in developing two poker machines.
The High Court has unanimously found the Federal Court has no power to allow solicitors to take a cut of a settlement or judgment in a shareholder class action against Blue Sky, saying it would be contrary to rules against contingency fees in NSW.
Gaming company Light & Wonder has hit back at Aristocrat’s intellectual property case, arguing that allegedly confidential information about the popular Dragon Link poker game was not trade secrets.
As the High Court hears oral arguments this week on the reach of power to make common fund orders for firms and funders bringing class actions, Lawyerly gives a cheat sheet on what the justices could do.