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The Victoria Supreme Court will not appoint a contradictor to weigh in on the reasonableness of a $1.25 million settlement offered by companies associated with the wife of a once prominent silk struck from the roll over the Banksia Securities class action scandal.
Companies linked to the wife of the disgraced Banksia Securities class action silk Norman O'Bryan have offered $1.25 million to settle proceedings seeking to recover a $21.5 million judgment for defrauded investors.
A unit of Purdue Pharma has fired off a cross-claim in Australian drug maker AUPharma’s lawsuit alleging the US drug giant was wrongly granted patent extensions for oxycodone products marketed as Targin.
The son of the lawyer behind the Banksia Securities class action has effectively abandoned his appeal of a court judgment that found he knowingly and actively assisted his father in a fraudulent scheme to pocket almost $20 million in inflated fees and commission.
Some of Australia's biggest law firms were targeted by lawsuits in 2022, facing allegations of negligence or bad advice from clients, or else accused by their own partners of misconduct.
In only the second case of its kind, ASIC has taken non-bank lender Firstmac to court over alleged breaches of design and distribution obligations in relation to its High Livez managed investment scheme.
The Australian Securities and Investments Commission has brought proceedings against insurance company OnePath Life, marking the first time the corporate regulator is seeking financial penalties for an alleged failure to act with utmost good faith during claims handling.
The judge whose ruling against the legal team behind the Banksia class action fraud helped redeem the battered reputation of the civil justice system may be asked to disqualify himself from the final fight in the drawn out case.
Australian pharmaceutical company AUPharma has sued the international arm of Purdue, alleging it was wrongly granted patent extensions for several oxycodone products marketed as Targin.
Dead or broke, the class action lawyers who schemed to defraud investors in failed Banksia Securities should not escape a $21 million judgment for damages and costs, a court has heard.