A former financial advisor employed by an IOOF unit accused of taking hefty commissions for steering investors towards risky investments contravened the financial advice provisions of the Corporations Act, a judge has found.
The Australian Taxation Office has successfully appealed a Federal Court decision finding it could not recover an R&D tax offset refund of around $2.3 million paid to Auctus Resources despite the payment being made by mistake and the mining company admitting it was not entitled to the money.
A judge has handed ASIC a victory in finding that investment group Mayfair 101 misled investors about the level of risk of its financial products, a ruling that will expose the group to pecuniary penalties at a time when a number of its entities have been wound up.
The judge overseeing a class action against Bayer-owned Monsanto has suggested a hearing by the end of the year on the cancer risks of the company’s Roundup products, saying judgment on that question would either encourage the proceedings to settle or end the case.
Star Entertainment Group Ltd is facing a lawsuit brought by a high-roller claiming the casino giant owes him almost $14 million won at the Baccarat table over a seven-day gambling spree last year.
Insurance broker Jardine Lloyd Thompson wants to declass a representative action brought on behalf of local councils in NSW alleging it socked them with inflated premiums, arguing there are no common questions to be determined in the case.
A judge has ruled the plaintiffs in the Gladstone Ports class action cannot reserve the legal costs of an application to avoid disclosure of expert reports, despite finding they had raised a novel issue.
A Sydney law firm has successfully defended a NSW Supreme Court lawsuit by angry former clients who tried to overturn a $492,000 settlement and accused the firm of a breaching its fiduciary duties and unconscionable conduct.
PZ Cussons has lost its bid for indemnity costs against the ACCC, with a judge saying the consumer watchdog’s case over an alleged laundry detergent cartel was “significantly wanting” but not hopeless or doomed to fail.
Singapore-owned food and beverage company Goodman Fielder has filed a trade mark infringement lawsuit against Arnott’s and Campbells after the two companies applied to register a trade mark that was one letter different to its own.