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Shareholders give thumbs up to create IP services behemoth
Intellectual Property 2019-07-25 10:40 pm By Christine Caulfield

Shareholders of Xenith IP have voted to approve a hard-fought takeover proposal by Australia’s largest intellectual property services firm IPH, in a deal that will create an IP services giant employing a staff of over 1,000 across the Asia Pacific.

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ACCC greenlights auto dealership merger, with proviso
Competition & Consumer Protection 2019-07-25 9:48 pm By Christine Caulfield

The competition watchdog has signed off on a proposed merger of AP Eagers and Automotive Holdings Group, Australia’s two biggest auto retailers, on the condition that AP Eagers divest two new car dealerships.

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Grant Thornton steps up as contradictor in KPMG class action settlement
Class Actions 2019-07-25 8:17 pm By Miklos Bolza

Accounting firm Grant Thornton has thrown off prior concerns and agreed to take on the dual role of scheme administrator of a confidential settlement by KPMG in the Discovery Metals shareholder class action and costs contradictor of Piper Alderman’s $3.5 million legal bill.

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$27M Fitch class action settlement approved after scolding by judge
Class Actions 2019-07-25 7:10 pm By Amelia Birnie

Group members in the Fitch Ratings class action have recovered almost 95 per cent of their losses in a $27 million settlement, which was narrowly approved after a judge scolded the parties for a lack of clarity around the mediation and opt-out process.

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Judge promises no ‘mystery tour’ in Takata air bags class actions
Class Actions 2019-07-25 4:23 pm By Miklos Bolza

The judge overseeing seven class actions against car makers over defective Takata airbags has shot down the applicants’ opposition to a soft class closure order in advance of mediation, saying the cases would not be a “mystery tour” from here on out.

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ACCC flags competition concerns in $350M ANZ Terminals, GrainCorp tie-up
Competition & Consumer Protection 2019-07-25 2:29 pm By Cat Fredenburgh

The Australian Competition and Consumer Commission has expressed competition concerns about ANZ Terminals’ proposed acquisition of a unit of global agribusiness GrainCorp, despite the storage specialist offering to divest one of its terminals to win approval for the $350 million deal.

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Forge reaches multimillion dollar settlement in shareholder class action
Class Actions 2019-07-25 1:24 pm By Christine Caulfield

Collapsed engineering and construction company Forge Group has agreed to settle a shareholder class action over alleged continuous disclosure breaches, which will see the funder pocket about $7.5 million.

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Cipla, Mylan settle lawsuit over ‘deceptive’ fenofibrate packaging
Intellectual Property 2019-07-25 12:48 pm By Cat Fredenburgh

Mylan and Cipla have reached a speedy resolution of a consumer lawsuit accusing Cipla of copying the get-up of Mylan’s blockbuster cholesterol drug Lipidil.

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ACCC drags debt collector Panthera to court for allegedly harassing consumers
Competition & Consumer Protection 2019-07-24 10:00 pm By Christine Caulfield

The Australian Competition and Consumer Commission has brought legal action against debt collector Panthera Finance for alleged harassment, six months after the watchdog secured a $750,000 fine against Australia’s largest debt collector.

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Iluka threatens class action dismissal bid amid ongoing funding concerns
Class Actions 2019-07-24 9:19 pm By Amelia Birnie

Mineral sands producer Iluka Resources is threatening a dismissal bid in a shareholder class action it has spent $2 million fighting over the past year, amid concerns proposed security could be inadequate and the applicant has still to finalise an agreement with a litigation funder.

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