The Australian Securities and Investments Commission has told a parliamentary committee that it plans to bring more than five court proceedings against AMP before the end of the year and has referred a number of investigations into the financial services giant for possible criminal prosecution.
The High Court has awarded $27 million in unpaid commissions to a Nigerian entrepreneur tricked into terminating his contract with international bank note manufacturer Securency, reversing a Full Court judgment which slashed his award.
An Australian mother who posted a viral video of her son, who suffers from achondroplasia dwarfism, following a bullying incident has hit the Daily Telegraph’s publisher with a defamation lawsuit over a reporter’s retweet of conspiracy theories that the video was a fake.
A judge has granted a mid-trial bid to bring in “potentially quite significant” new evidence in a class action against Ford over its allegedly defective PowerShift transmissions, finding the failure to file the material earlier was not deliberate but a “mistake” on the part of the lead applicant’s solicitors at Corrs Chambers Westgarth.
After “unavoidable delays”, shareholders will soon be notified of a settlement reached one year ago in a class action against QRxPharma, but a company director has warned group members will receive nothing of consequence and the law firm and funder involved in the case would be disappointed by their takeaways.
The Australian Competition and Consumer Commission has initiated proceedings against Victorian electric utility Sumo Power for allegedly luring customers with the promise of discounts and low rates only to jack up their prices months later.
Receivers appointed in the wake of the collapse of Banksia Securities may seek costs orders against the estate of deceased funder and class action lawyer Mark Elliott, a court has heard. Meanwhile, the Victorian Bar says it has “every confidence in the judicial process” after senior counsel Norman O’Bryan yesterday abandoned his defence of misconduct allegations stemming from the case.
AFT Pharmaceuticals has suffered another blow over its Maxigesic advertisements, with a judge finding the marketing material misled consumers by claiming to provide better, faster and more effective pain relief than paracetamol or ibuprofen.
Former financial adviser Graeme Miller has been jailed for six years after pleading guilty to misappropriating $1.865 million in client funds in what a judge described as a “cruel and deceitful betrayal”.
Generic drug maker Sandoz has successfully appealed a $26.3 million judgment finding it infringed a patent owned by rival H Lundbeck relating to the top-selling antidepressant Lexapro.
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