Food and beverage manufacturer Freedom Foods and accounting giant Deloitte have been hit with a second class action by irate investors seeking compensation for “accounting errors” that led to a $590 million write-down in November last year.
A former director of a Leighton Holdings subsidiary has been hit with a third foreign bribery charge after a six-year AFP investigation found bribes were paid to Tanzanian public officials to secure a mooring replacement contract worth $US66.48 million.
Murray Goulburn insurer AIG Australia says it should not have to pay 20 per cent of a $42 million class action settlement reached by the dairy cooperative, arguing on Tuesday that the class action claims failed to satisfy the definition of a “securities claim” in its insurance policy.
Australia’s merger laws are not fit for purpose and the current approach to merger control needs to be rebalanced, the head of the ACCC has said in setting down the regulator’s agenda for 2021.
Ticket reseller Viagogo is seeking a stay of a $7 million penalty in litigation brought by the ACCC in light of the “catastrophic effect” of the COVID-19 pandemic, as the company appeals a court’s finding that it misled customers on an “industrial scale”.
A royal commission has been established in Victoria to look into whether Crown Melbourne is suitable to hold a casino licence in the state, following a damning report from the NSW gaming authority.
Pharmacy giant Priceline is the target of an “imminent” class action, with a group of dissatisfied franchisees accusing the company of exercising an “overly prescriptive” level of control over its franchises and fettering profitability.
The Transport Workers Union is calling on the government to regulate the gig economy in the wake of a unanimous ruling from the UK Supreme Court that found Uber drivers are not independent contractors but workers with the right to entitlements.
The former chief financial officer of delisted Traditional Therapy Clinics has appeared in court after pleading guilty to market manipulation charges relating to transactions intended to create an artificial share price for the traditional therapy clinic company.
Group members in a class action against Oculus Accounting may not receive a payout after the company’s insurers refused to indemnify it against claims alleging the accounting firm was negligent in prompting an investment in failed music streaming platform Guvera.