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.
The consumer watchdog has filed court proceedings against Fuji Xerox alleging the Japanese print giant’s standard form contracts with small businesses contain a bevvy of unfair contract terms that could cause them harm.
Software company LiveTiles will pay $8.445 million to settle litigation brought by Microsoft solutions provider nSynergy’s founder Keith Redenbach against his brother, LiveTiles CEO Karl Redenbach, alleging he diverted tens of millions of dollars in nSynergy’s assets, including LiveTiles.
The maker of pain killer Maxigesic is taking its long-running battle with Nuromol manufacturer Reckitt Benckiser to an appeals court after a recent ruling that its advertising misled consumers by claiming Maxigesic provided better, faster and more effective pain relief than paracetamol or ibuprofen.
A Victoria Supreme Court class action will soon be filed against fertility clinic Monash IVF seeking compensation for women who allegedly had viable embryos discarded thanks to inaccurate genetic testing.
A judge has given the greenlight to AUSTRAC’s $1.3 billion penalty against Westpac over the bank’s 23 million breaches of money laundering and counter-terrorism laws, the biggest regulatory fine ever paid by an Australian company.
A solicitor who failed to respond to calls from the Federal Court has been criticised by a judge for filing what appeared to be a “deficient” application in a case run on behalf of gangland lawyer Zarah Garde-Wilson in her bid to obtain details from Google over the identity of an online reviewer.