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ASIC loses case against super trustee Diversa over banned advisor
Financial Services 2023-10-24 10:27 am By Sam Matthews

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.

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Citibank wants class closure before evidence in rate-rigging case
Competition & Consumer Protection 2023-10-23 11:43 pm By Cindy Cameronne

Citibank has argued group members should be asked to sign on to a class action accusing five major banks of entering a cartel agreement to rig foreign exchange rates before evidence is filed in the case, saying it was impossible to know how much the claims were worth. 

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ANZ breached continuous disclosure rules during $2.5B share placement, court finds
Securities 2023-10-13 5:08 pm By Cindy Cameronne

A judge has found that ANZ breached continuous disclosure rules by failing to disclose a $750 million bailout by underwriters Deutsche Bank, Citigroup and JP Morgan during its $2.5 billion equity capital raising in August 2015.

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Epic Games cases against Google, Apple to run alongside class actions
John Sheahan 2023-09-28 10:11 pm By Cindy Cameronne

A judge has ordered lawsuits by Fortnite owner Epic Games against Apple and Google to be heard together with class actions against the tech giants on behalf of app developers and customers who accuse them of distorting competition in the app marketplace.

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Cipla sues to invalidate Bristol-Myers’ patents for DVT drug
Intellectual Property 2023-09-20 11:03 pm By Cat Fredenburgh

Indian generic drug maker Cipla has sued pharmaceutical giants Bristol-Myers Squibb and Pfizer alleging the patents behind their blockbuster deep vein thrombosis drug Eliquis are invalid.

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Woodside says Scarborough gas project poses ‘acceptable’ risks
Energy & Natural Resources 2023-09-19 1:49 pm By Cindy Cameronne

Woodside Energy has hit back at a bid to halt seismic blasting on its Scarborough gas project, claiming it undertook comprehensive consultation with Indigenous communities and that the project’s environmental risks were of “an acceptable level”. 

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Woodside faces bid to block seismic testing for Scarborough gas project
Environment 2023-09-14 3:28 pm By Cindy Cameronne

A traditional custodian has filed an application to block seismic testing on Woodside Energy’s Scarborough gas project until her legal challenge has been finally determined, in a case similar to the one that put Santos’ $4.7 billion Barossa project on ice.

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COVID-19 insurance class action members can ‘have their cake and eat it too’: judge
Insurance 2023-09-08 11:55 pm By Cindy Cameronne

A judge considering bids to de-class COVID-19 business interruption class actions has said group members can sign up for the representative proceedings but later decide to make claims directly with their insurers.

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NAB class action seeks to bring ‘very serious’ new fraud allegations
Class Actions 2023-08-25 2:25 pm By Cindy Cameronne

NAB will fight a bid by a $78 million class action over the collapse of Walton Construction to add serious fraud allegations in the four-year-old case, which a judge said has been “mired in a procedural mess”.

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IAG class action says 30% GCO can’t be compared to beauty parade rates in Star cases
Class Actions 2023-08-18 2:29 pm By Sam Matthews

In its bid for a 30 per cent group costs order, the applicant in a class action against Insurance Australia Group says the percentage shouldn’t be compared to lower proposed rates — as low as 14 per cent — in a battle to run a class action against Star.

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