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ASX Limited has told a judge it did not intend to mislead shareholders when it told the market that its CHESS replacement project was “progressing well” and that a $20.5 million penalty was sufficient to achieve deterrence.
Defence lawyers are bracing for a wave of class actions over companies’ use of generative artificial intelligence, with privacy, discrimination, consumer, product liability and shareholder claims expected.
A judge has been asked to approve a revised $18.1 million settlement in an underpayments class action against Sydney Trains, reached after the registration of 260 new group members pushed the settlement above the agreed cap.
The latest new suits feature billion-dollar infrastructure brawls, fresh employment claims against Telstra and Woolworths, and regulators flexing their enforcement muscle.
Construction PRO
The owners of Millmerran Power Station and Commodore Coal Mine in Queensland are appealing a $30 million win for contractor BUMA, and have won their bid to challenge subsequent costs orders.
Engineering services firm Worley has taken last month's landmark loss in a shareholder class action to the High Court, challenging the Full Federal Court's embrace of market-based causation and its adoption of the facilitation principle.
Australian firms will continue to join forces with firms in the United States in a bid for higher partner profits and in response to client demand for a one-firm, multi-location service, an expert has predicted.
Google has hit back at a class action alleging it abused its dominance in the digital advertising market, saying that publishers are able to, and often do, develop their own ad tech tools or rely on competing third-party solutions.
A judge has sounded the alarm bell about regulators launching appeals to re-litigate enforcement proceedings, in a recent decision tossing the corporate cop's appeal in a case against insurer HCF Life.
The lead shareholder in class actions against CBA has urged the High Court to take a "common sense" approach to loss causation in securities cases, as endorsed by the Full Federal Court in last month's ruling for Worley's investors.