Dropping a class action against accounting firm Pitcher Partners over Slater & Gordon’s disastrous acquisition of UK professional services firm Quindell will leave group members no worse off than they were when the proceeding first commenced, the Federal Court has heard.
Construction information service provider BCI Media Group has won its bid for preliminary discovery against property data analytics firm CoreLogic Australia, which is suspected of breaching copyright by gaining unauthorised access to BCI’s subscription platforms and data scraping for leads.
US cryptocurrency maker Ripple Labs has hit back at an intellectual property lawsuit brought by the Australian company behind the ubiquitous PayID mobile banking system, saying its PayID trade mark is neither substantially identical nor deceptively similar to the Aussie mark.
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”.
An offer by billionaire Clive Palmer to pay $21 million for all remaining shares in villas at the Palmer Coolum Resort in Queensland and drop 14 lawsuits over resort ownership has been rejected by villa owners.
A judge due to hear a high profile appeal by Johnson & Johnson unit Ethicon has expressed confusion about the grounds on which the medical device maker is challenging a landmark judgment putting it on the hook for potentially hundreds of million of dollars in damages over faulty pelvic mesh implants.
The lawyers behind two class actions against clothing retailer Surfstitch breached their duties to act in the best interests of shareholders, and their conduct should bar them from pocketing more than $6 million claimed in costs and commission in the protracted litigation, a court has heard.
A judge has found that auditor Ernst & Young cannot rely on the privilege against self-incrimination in a lawsuit brought over its audits of failed financial services firm LM Investment Management.
James Mawhinney, director of the besieged Mayfair Group, has lost his bid to slow down two proceedings filed by ASIC which he claims will have a “catastrophic” effect on his business, staff and investors.
Billionaire Clive Palmer has claimed that he wrote the lyrics to ‘Australia’s Not Gonna Cop It’ in the early hours of the morning while “deep in contemplation” at his bedside, telling the Federal Court that the song was inspired by the Peter Finch film ‘Network’ and not Twisted Sister’s rock anthem.