Murray Goulburn’s former managing director Gary Helou and chief financial officer Brad Hingle have been disqualified from heading up companies after they were found to have breached the Corporations Act for their role in the milk supplier’s repeated failure to disclose an expected material decrease in the milk supplier’s earnings guidance for 2016.
The corporate regulator is pushing for a three-year director ban against former Murray Goulburn managing director Gary Helou and a two-year disqualification order against the dairy cooperative’s former chief financial officer over misleading representations about farmgate milk prices five years ago.
A judge has denied Fuji Xerox’s attempt to strike out parts of the defences of Ernst & Young and a former Fuji director in a lawsuit over alleged massive accounting irregularities.
An amicus curiae will be appointed by the court to argue against a common fund order application by the funder backing a class action against two Insurance Australia Group subsidiaries, after the insurance giant agreed to a $138 million settlement last month.
A judge overseeing the misconduct trial in the Banksia Securities class action has rejected a bid by a lawyer for the deceased cost consultant in the case to separately determine whether a cause of action survives his death.
Rideshare giant Uber Technologies has lost a bid to keep its in-house legal team from handing over emails to a class action brought by Australian taxi drivers as well as the company behind the GoCatch taxi app.
Venture capitalist Elaine Stead wants Australian Financial Review columnist Joe Aston to hand over documents connected to confidential sources, and says Aston can’t rely on a journalist’s privilege protecting the identity of informants.
The son of Banksia class action funder Mark Elliott, who has been accused of complicity in a fraudulent scheme to maximise the profits of the lawyers in the case, was young and inexperienced and didn’t know his father’s conduct was wrong, his barrister has told a court.
Viagogo has appealed a $7 million penalty handed down after a judge found the ticket reseller had misled consumers into thinking it was an official vendor and failed to disclose booking fees of around 28 per cent.
A routine practice by the funder behind the scandal-ridden Banksia class action of deleting emails, documented in a letter by his solicitors just days before his death, isn’t consistent with the electronic record maintained in another class action in which he was involved, a court overseeing a trial in the case has heard.