Class Actions
High Court asked to clarify test for damages in shareholder class actions
Saying the appeals court committed "fundamental errors" in approaching their claim of loss, the applicants in failed cases against the Commonwealth Bank have appealed to the High Court, in a case that could clarity the elusive test for damages in shareholder class actions.
Class Actions
In Google carriage fight appeal, Piper Alderman claims law firms’ cooperation anti-competitive
Piper Alderman claims a judge erred in finding there was no evidence that an agreement between Maurice Blackburn and Phi Finney McDonald to cooperate in running an ad tech class action against Google was struck for an anti-competitive purpose.
Energy & Natural Resources
Clive Palmer’s $300B claim over WA law shot down by international tribunal
Clive Palmer has lost a battle over Western Australian legislation shielding the state from the fallout of a decision barring a proposed Pilbara iron ore project, with a tribunal finding it had no jurisdiction to hear the $300 billion case.
Telecommunications
Telstra reaches settlement with ACCC in case over Belong speeds
Telstra has reached an agreement with the consumer regulator after a court found the telco misled thousands of broadband customers about the speed of its budget internet provider, Belong.
Cryptocurrency
Government to require crypto exchanges to hold financial services licence
Cryptocurrency exchanges will be required to hold an Australian Financial Services Licence under proposed legislation announced by assistant treasurer Dr Daniel Mulino.
Employment
ASX tried to silence whistleblower, hide governance failures from RBA, lawsuit says
A former contractor at the ASX has alleged the securities exchange was "embarrassed" by governance failures relating to a $200 million technology modernisation program and sought to hide the issues from the Reserve Bank of Australia.
Restructuring & Insolvency
Babcock & Brown liquidator settles all remaining shareholder claims
A judge has signed of on a settlement struck by the liquidator for failed financial services firm Babcock & Brown, which will resolve all remaining and future shareholder disputes, which have beleaguered the liquidator for 12 years.
Financial Services
Macquarie admits failures over Keystone, vows to repay investors
Super trustee Macquarie Investment Management has admitted it failed to act efficiently, honestly and fairly after thousands of members invested $321 million in a Keystone fund under investigation for misusing funds.
AI
Qld’s top judge says lawyers citing non-existent cases risk referral, costs
The Chief Justice of the Queensland Supreme Court has warned lawyers they could be referred to the legal watchdog or face a personal costs order if they file submissions that contain hallucinations produced by generative artificial intelligence.
Intellectual Property
Abbey in ‘pyrrhic victory’ against Virbac over antiparasitic drug patent
Abbey Animal Health has managed only a “pyrrhic victory" in a patent case against rival Virbac over an antiparasitic drug, and must withdraw its Levamox Duo product from the market, a court has found.
