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The Australian arm of global financial solutions provider Pershing faces sentencing after pleading guilty to criminal offences of mishandling client funds.
ACCC dodges indemnity costs over failed detergent cartel appeal
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Personal healthcare giant PZ Cussons has lost its bid for indemnity costs against the ACCC, after claiming that the regulator was “doomed to fail” when it appealed a judgment dismissing its case over an alleged laundry detergent cartel.
University defeats opposition to rare cancer detection patent
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The path has been cleared for US university to patent its rare cancer detection invention, defeating opposition from an Australian medical technology company.
ACCC loses appeal over $205M Pacific National, Aurizon terminal deal
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The ACCC has come up short in its appeal of a ruling that dismissed its challenge to Pacific National $205 million acquisition of Aurizon’s Acacia Ridge Terminal in Queensland, with the Full Federal Court also releasing Pacific National from an undertaking given to the court.
First common fund order granted in the wake of High Court ruling
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A judge has made a common fund order in approving a $3 million settlement in a class action against mortgage lending and investment company RMBL, the first common fund order granted since the High Court shot down these orders in the early stages of class actions.
Landmark shareholder class action against Myer dismissed
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A closely watched shareholder class action against Myer over an inflated profit forecast from former CEO Bernie Brookes has been dropped, after a court found the retail giant misled shareholders but that they suffered no harm.
Ashurst partner faces eviction from Point Piper home
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An Ashurst partner is at risk of being evicted from his Point Piper home after allegedly refusing to pay a $150,000 special levy.
US plaintiffs firms set to pounce on Treasury Wine Estates
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Treasury Wine Estates is facing the threat of multiple shareholder class actions in the US over a January 2020 profit downgrade that is already at the centre of two class actions filed in Australia.
Vocus ruling cements return to class action book building by funders
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A decision this week rejecting a proposed common fund order at the settlement approval stage of a class action against teleco Vocus has dashed the hopes of litigation funders that a recent High Court ruling would not foreclose on judges using discretion at the end of a case and will cement a return to bookbuilding and a focus on shareholder class actions by institutional investors.
Tabcorp faces potential class action over cash out error
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Betting giant Tabcorp may be hit with a class action after the company accidentally offered punters larger than usual cash out amounts for certain bets and then sought to reclaim the cash.