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Blue Sky Alternative Investments could be facing a class action after a report by a U.S. hedge fund that found the Australian fund manager had exaggerated its assets under management and the performance of its investments, while also collecting excessive management fees.
A judge on Wednesday refused a bid by Australian mortgage aggregator Connective Group to put on hold a derivative lawsuit by a shareholder against the company's bigwigs over the sale of 25 percent of the business to Macquarie Bank, saying there were no special circumstances justifying a stay.
The Australian Competition and Consumer Commission has raised concerns about MYOB's proposed bid for Reckon's accounting unit, saying it could substantially lessen competition in the market for accounting software.
A long-awaited congressional report has called for an overhaul of medical device regulation in Australia, in the wake of a system-wide failure to protect women who suffered "devastating" consequences after being implanted with faulty vaginal mesh products.
Companies that manipulate financial benchmarks will face specific civil and criminal penalties under changes to the law made by the government today, in the wake of $100 million in settlements by two of Australia's largest banks last year over claims they manipulated the bank bill swap reference rate.
The Australian competition regulator has delayed its decision on the proposed $1.3 billion merger of dairy giant Saputo with Australian milk co-op Murray Goulburn to consider feedback from market participants.
CSIRO has won a challenge to an application for a mining patent filed by mining giant Rio Tinto, with an IP Australia delegate finding no patentable subject matter could be claimed.
A measure to add competition concerns to the mandate of the Australian Securities and Investments Commission was formally introduced in the House on Wednesday.
A joint parliamentary report released today blasted consumer protections for life insurance as weak, and called for an expansion of consumer protection laws to the life insurance sector and stronger enforcement powers for the Australian Securities and Investments Commission.
Corrs Chambers Westgarth has filed a shareholder class action against GetSwift alleging it provided inadequate disclosures and misled investors with its overhyped announcements about business contracts, one month after Squire Patton Boggs brought a similar suit.