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Ex-Nuix director wants class action shelved until ASIC case wraps up
Class Actions 2023-02-02 4:12 pm By Sam Matthews

A former Nuix director has made a bid to stay a shareholder class action, which accuses the software company of failing to alert the market to red flags in the business, pending the outcome of separate proceedings by ASIC.

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Forge Group defeats challenge to insider trading case over $187M sale
Appeals 2023-02-02 5:54 pm By Cindy Cameronne

Collapsed engineering firm Forge Group has defeated an appeal seeking to block its liquidators from bringing a case against engineering company Clough Limited for alleged insider trading during the 2013 sale of a $187 million stake in the company.

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Class action funder’s son drops appeal of ruling linking him to Banksia scam
Class Actions 2023-02-01 4:59 pm By Christine Caulfield

The son of the lawyer behind the Banksia Securities class action has effectively abandoned his appeal of a court judgment that found he knowingly and actively assisted his father in a fraudulent scheme to pocket almost $20 million in inflated fees and commission.

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Law firm’s estimated costs in PFAS class action ‘excessive’, court says
Class Actions 2023-02-01 4:44 pm By Cindy Cameronne

A judge has found a law firm’s estimated fees for representing the Commonwealth in a class action over the use of allegedly toxic firefighting foam on military bases are excessive, noting the government has already forked over $12 million in defence costs.

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Muffin-eating lawyer can’t set aside Lawcover’s bankruptcy notice
Insurance 2023-02-01 4:55 pm By Sam Matthews

Two Sydney lawyers have lost an application to set aside bankruptcy notices filed by their insurer claiming over $300,000 in legal costs, after a judge rejected their arguments about an “overarching conspiracy” in the case.

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Judge asks GetSwift GC why he didn’t call out directors for being ‘bullies’
Securities 2023-01-31 8:05 pm By Cindy Cameronne

A judge has grilled the former general counsel of defunct logistics company GetSwift about why he did not confront the company’s directors for “bullying” other executives when they raised concerns about alleged continuous disclosure breaches.

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Shaw & Partners conspired with defecting Fortrend advisors to steal clients, suit says
Employment 2023-01-31 5:13 pm By Sam Matthews

Stock broker Fortrend Securities has filed a suit alleging wealth manager Shaw & Partners sent unsolicited welcome letters to clients as part of a scheme involving two former advisors.

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SMBC mulls new claims in $34M lawsuit over Forum Finance receivables
Financial Services 2023-01-31 3:34 pm By Cindy Cameronne

Japanese bank SMBC has foreshadowed an application to add claims against Humm Group after the fintech’s subsidiary allegedly misled the bank about receivables under contracts forged by a Forum Group entity.

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Herald Sun publisher can include lawyer’s drug arrest in defamation defence
Media 2023-01-31 10:08 pm By Sam Matthews

The publisher of the Herald Sun has won a bid to include the drug-related arrest of a prominent Melbourne lawyer in its “bad reputation” defence to the solicitor’s defamation action.

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Judge ‘confused’ by ACCC’s rejection of $1.8B Telstra, TPG mobile network deal
Competition & Consumer Protection 2023-01-30 4:49 pm By Cindy Cameronne

The ACCC’s rejection of a regional network arrangement between Telstra and TPG was “confusing” and the telecos might be free to vary the transaction, says a judge who is overseeing a challenge to the competition regulator’s decision.

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