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Changes to AMP's buyer of last resort policy that reduced the multiple by which the wealth management firm would purchase advisers' client registers was necessary to protect the business from a 'BOLR run', a court had been told.
Professional services firm EY UK has been added as a respondent in a shareholder class action against Pitcher Partners over advice given to law firm Slater and Gordon in its disastrous $1.3 billion acquisition of the UK-based Quindell in 2015, almost two years after the class action was filed.
Australian Financial Review columnist Joe Aston sent "very nasty" text messages about venture capitalist Elaine Stead, and any in-person mediation ahead of Stead's defamation trial is unlikely to be worthwhile given the animosity between the pair, a court has been told.
Lawyer Alex Elliott, the son of the mastermind behind an alleged fraudulent scheme by certain members of the legal team in the Banksia class action, has resisted handing over evidence in the case against him, invoking the right to silence in the face of possible criminal charges.
The cost consultant joined as a defendant in the trial over alleged misconduct by the Banksia class action legal team has died, the second person implicated in the fee scandal to die this year.
A court has ordered comparison website iSelect to pay $8.5 million in penalties for making misleading representations through its online electricity comparison service and pushing plans to consumers that were not necessarily best suited for them.
Lawyer Alex Elliott was complicit in a plan by his late father to mislead the court and group members in the Banksia class action, to conceal conflicts of interest and to profit from the case at the expense of debenture holders, a judge has been told.
The Murray Goulburn class action run by Elliott Legal bears similarities to the Banksia class action, a case rife with scandal and offered up by opponents as proof of the problems with the class action regime. The leading lawyers were the same in both cases. In one they have abandoned any claim to their fees and have walked away from their careers. In the other they walked away with $5 million.
US drug company Merck Sharp & Dohme has settled trade mark litigation brought by German drug maker Merck KGaA alleging it violated a 1970 agreement by using the "Merck" mark in Australia.
Viagogo has been ordered to pay a $7 million penalty for misleading customers into thinking the ticket reseller was an official vendor and failing to disclose booking fees of around 28 per cent.