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Facebook flags potential conflict of interest in cryptocurrency ad class action
Facebook owner Meta wants to uncover the basis on which crypto tokens have been issued to bankroll a class action over its 2018 ban on cryptocurrency ads, citing the potentially conflicted interests of the self-represented lead applicant.
Cheese makers challenge Kraft’s ‘parmesan’ trade mark
A consortium of parmigiano reggiano producers who claim Kraft Foods' 'Kraft parmesan cheese' trade will lead customers to believe the food giant's cheese is made in Italy have taken their fight to the Federal Court.
Austal hit with $700,000 penalty over $3.5B US Navy program disclosures
Defence shipbuilder Austal and its CEO have agreed to pay a combined $700,000 in penalties for violating the Corporations Act by failing to notify the market of a US$90 million writeback related to the company's $3.5 billion US Navy warship program.
Retail Food Group files bid to quash franchisee class action
Retail Food Group has filed an application to shut down a class action by former franchisees of its Michel's Patisserie chain who claim to have suffered losses stemming from changes to the franchise giant's supply chain in 2015 and 2016.
Funder’s commission holding up Opal Tower class action settlement
A $13 million commission sought by the funder that bankrolled the Opal Tower class action is stalling settlement approval, as debate continues over whether the funder can recoup the costs of after-the-event insurance from group members.
Kraft prevails in fight with Italian cheese makers over ‘parmesan’ trade mark
A consortium of parmigiano reggiano producers has lost its challenge to Kraft Foods’ 'Kraft parmesan cheese' trade mark after an IP Australia delegate found that customers would be “sceptical” that the product was Italian.
Judge throws out ASIC evidence on tweets in ASX Wolf Trader’s case
The self-declared “wolf trader” of the Gold Coast, Tyson Scholz, has won his bid to exclude ASIC’s evidence about the meaning of his tweets in its case accusing him of providing unlicensed financial services.
Grant Thornton, Moore Stephens sued over Linchpin audits
Embattled investment firm Linchpin Capital has sued auditors Grant Thornton and Moore Stephens for signing off on the compliance plan for a registered fund that allegedly used investor money to advance the company's business interests and line its directors' pockets.
Virgin class action to appeal ‘nonsensical’ indemnity ruling
The applicant in an investor class action against Virgin Australia plans to appeal a judge’s decision requiring litigation funder Balance Legal Capital UK to give the airline an indemnity in order to bring the proceedings, saying the indemnity “substantially changes the risk calculus" for group members.
Facebook, Google take aim at cryptocurrency ad class action
Facebook and Google have flagged their intention to seek a stay or declassing order in a class action over a 2018 ban on cryptocurrency ads.