A shareholder class action against livestock exporter Wellard is seeking approval for a $23 million settlement which will see only $7.86 million go to group members, telling the court that the funder and law firm that ran the case have agreed to take a haircut on the deductions they’re entitled to.
The Australian Securities and Investments Commission has won a travel ban against a former director of collapsed cryptocurrency platform Blockchain Global while the regulator investigates suspected criminal offences.
REST Super faces a class action alleging the supererannuation trustee deducted premiums for income protection insurance that provided no benefit to members.
A shareholder class action against livestock exporter Wellard over a profit downgrade following its $300 million initial public offering in 2015 has settled for $23 million.
Australia Post unit StarTrack has won an injunction barring postal product manufacturer TMA Australia from using a website URL containing the words ‘StarTrack’, with the Full Court finding a judge wrongly held the case was ‘weak’.
Two units of electricity giant AGL Energy will pay penalties totalling $6 million for being unable to make good on their promise to be on standby to release electricity to help prevent blackouts.
A judge has dismissed court proceedings brought by the corporate regulator against superannuation trustee Diversa over its alleged failure to oversee a now-banned financial adviser, ruling that the knowledge of downstream entities could not be attributed to Diversa.
Automotive electronics company Directed Electronics has lost its bid to revive copyright claims against a form business partner who it pursued as part of litigation over a scheme by two former employees to misappropriate its trade secrets through a secret side agreement with South Korean giant Hanhwa.
A court has ordered Google to provide former Victorian Labor candidate Nurul Khan with account information and IP addresses relating to an anonymous email sent to the ALP last November, which led to his disendorsement by the party just two weeks before the state election.
Insurer Atradius has lost its bid to keep under wraps information supporting its application to publicly examine three KordaMentha directors about their administration of the Arrium Group after a judge found it would not prejudice a similar bid in related proceedings.