Investors in Mayfair Group’s collapsed IPO Wealth Fund have clawed back only a fraction of their alleged $67 million losses after a judge approved a settlement in a class action alleging the fund’s trustee misled unit holders.
Teleco contractor BSA, which resolved a class action by its workforce for $20 million, won’t be recouping the costs of legal action to exclude a $13 million capital raising from the settlement.
Investors in Mayfair Group’s collapsed IPO Wealth Fund are set to recoup only a fraction of their alleged $67 million losses in a best-case settlement of a class action alleging the fund’s trustee misled unit holders.
The Australian Securities and Investments Commission has suffered a defeat in proceedings alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, with a judge finding the regulator “ignored the circumstances” in which the product was distributed.
A judge has found that dairy processor Lactalis Australia breached a mandatory industry code between farmers and processors requiring it to publish milk supply contracts on its website.
A judge has ordered two Sydney roof tiling businesses and their directors to pay a total of $420,000 in penalties after making admissions in proceedings brought by the Australian Competition and Consumer Commission alleging they rigged bids for construction at the University of Sydney.
Google has won its appeal of a judgment awarded to gangland lawyer George Defteros that found the tech giant liable for linking to an allegedly defamatory article, with the High Court finding Google was not the publisher of the story.
Dozens of provisions in Fujifilm’s contracts with thousands of small businesses are unfair and unenforceable, a court declared Friday in a case against the office supply company by the Australian Competition and Consumer Commission.
Law firm Johnson Winter & Slattery is expanding its footprint with the opening of a Canberra office spearheaded by two new partners lured from MinterEllison and leading M&A partner Marcus Clark.
Mastercard had a legitimate and pro-competitive reason for reaching agreements with major retailers to choose its network over Eftpos for debit card processing, a court was told Wednesday in the competition regulator’s misuse of market power case against the financial services behemoth.