A judge has approved a $50 million settlement in a shareholder class action against failed training company Vocation and auditor PricewaterhouseCoopers, but questioned whether the $10.9 million commission and $12.75 million legal bill could have been “materially lower” had the case been run by one funder and firm instead of two.
A judge has ordered the Commonwealth Director of Public Prosecutions to file a replacement indictment to address defects in the document at the centre of its criminal cartel case over a $2.5 billion ANZ share placement in August 2015.
A self-described “citizen journalist” who publishes “cynical and cranky” opinions about the Australian Stock Exchange on the Twitter account Stockswami cannot claim journalist privilege to protect his source, a judge has found.
A settlement reached in a lawsuit by the liquidators of collapsed steel giant Arrium against 10 former company directors accused of insolvent trading has been approved by a judge, who noted that while the settlement amount was “substantial”, the deal involved a “substantial compromise”.
The ACCC has lost its regulatory action against NSW Ports alleging a 50-year agreement with the state, signed when Port Botany and Port Kembla were privatised in 2013, was anti-competitive.
US financial services giant State Street has appealed its loss in a lawsuit brought against Maurice Blackburn over the law firm’s use of a replica of the famous Fearless Girl statue.
A dozen group members can opt out of Maurice Blackburn’s Roundup class action against Monsanto and switch to a competing class action being run by Sydney-based LHD Lawyers that was closed and temporarily stayed in May last year.
Law firms are ordering staff in their Sydney offices to work from home if possible and avoid face-to-face meetings as the state’s new rules requiring masks at all indoor workplaces takes effect.
The Full Federal Court has upheld US biotech company Sequenom’s patent for a noninvasive prenatal genetic test, rejecting rival Ariosa Diagnostic’s argument that the patent merely described a way to extract incorporeal genetic information.
A Victoria Supreme Court judge weighing for the first time an application by a law firm for a percentage cut of recoveries in class actions has been told to reject the bid because group members would fare better under the firm’s current no win, no fee funding arrangement.