Myer had an obligation to correct remarks by former CEO Bernie Brookes in 2014 that the department store expected increased profits the following year, because there was no reasonable basis for the statement, a court heard Wednesday at the start of trial in a shareholder class action alleging the company breached its disclosure obligations to the market.
The Full Federal Court expressed doubts Tuesday about an “unusual” and “heavy handed” order restraining lawyers leading the stayed class actions against GetSwift from advising their clients about whether to opt out of the prevailing action.
Cargill has been ordered to turn over what it describes as “highly confidential” documents related to the possible sale of its malt business, a new revelation in the complex trial over claims Viterra fraudulently concealed crucial information when it sold malt producer Joe White Maltings to Cargill Australia in 2013 for $420 million.
A Perth businessman has filed an appeal of a judge’s ruling that an email forwarded by a Gadens lawyer from ASIC alerting him that he had been disqualified from serving as a director constituted proper notification.
When US food giant Kraft faces off next week in its lawsuit against Aussie cheese company Bega for allegedly violating its peanut butter trade dress, the court will be faced with the thorny task of unraveling a complex corporate transaction that left both companies claiming rights to the iconic trade dress.
Aristocrat Technologies is pushing on with its bid for four innovation gaming patents, after a delegate for IP Australia revoked the patents because they amounted to nothing more than ‘games and game rules’.
A settlement has been reached in two class actions brought on behalf of holders of debentures who allege they suffered losses due to Australian Executor Trustees’ mismanagement of debenture issuer Provident Capital.
The naming of Squire Patton Boggs as a concurrent wrongdoer in GetSwift’s defence puts the law firm in an “impossible position of conflict of interest” if it wins a challenge to an order staying its class action against the company, the Full Federal Court has been told ahead of a highly anticipated appeal hearing that promises to pull no punches.
A unit of Yazaki Corp is seeking High Court approval to file an appeal after the Full Federal Court handed down a record $46 million penalty against the car parts maker for colluding with a competitor on prices for wire harnesses supplied to Toyota.
The Federal Court has dismissed an application by tax lawyer Michael Binetter and his wife Suzanne Binetter to dip into over $3 million in frozen assets to fund a case over an alleged $120 million international tax evasion scheme.