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Ardent Leisure, which operates the Dreamworld theme park in Queensland, is facing a shareholder class action over a 2016 tragedy in which four people died following a ride malfunction.
Respiri settles lawsuit over ex-CEO’s termination
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Medical technology company Respiri has settled a lawsuit brought by its former CEO alleging he was terminated for seeking to expand into the Indian market against the wishes of the ASX-listed company’s board.
ASX backs permanent reform to continuous disclosure obligations
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Recent temporary measures by the government making it harder to bring shareholder class actions should be part of permanent reform, ASX has said, and enforcement of Australia’s continuous disclosure rules should rest with the share market operator and ASIC.
Female barristers say virtual hearings antidote to ‘constant low-grade intimidation’
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The era of online hearings during the COVID-19 pandemic has made advocacy more challenging for counsel representing parties in litigation, but a happy consequence of the virtual courtroom is an end to intimidation, harassment and in some cases bullying by male barristers and judges, female barristers have told Lawyerly.
Victoria passes hotly contested contingency fee bill
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Victoria’s lawmakers have passed a fiercely-debated bill that lifts the ban on contingency fees, making the state the first in the country to allow lawyers to take a percentage cut of any judgment or settlement in class actions.
Norwegian shipper pleads guilty to cartel charge, says fine should be $20M
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Norway-based shipping company Wallenius Wilhlmsen Ocean AS has pleaded guilty to one charge of criminal cartel conduct, but told a court the penalty should be discounted from the maximum by over 50 per cent.
Binary options trader hit with $1.8M penalty for ‘systemic’ exploitation
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A Marshall Islands-based binary options trader has been hit with a $1.8 million penalty after a judge found it engaged in the “deliberate deception of vulnerable people”.
ACCC clears $120M AFG, Connective merger
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The competition cop has given its blessing to Australian Finance Group’s $120 million acquisition of rival Connective Group, after raising concerns the deal could squeeze smaller players out of the mortgage aggregator market.
ACCC sweating the details of Google’s $3B Fitbit purchase
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The competition regulator has raised concerns about Google’s planned acquisition of fitness device company Fitbit, saying the $3 billion tie-up could further cement the dominance of the search engine giant in online advertising.
Energy companies face $1B class action over alleged ‘bidding games’
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Queensland’s two largest electricity generators are facing a potential class action over alleged “bidding games” designed to artificially inflate consumers’ electricity bills.