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National law firm Holding Redlich is investigating a shareholder class action against Smiles Inclusive, just one week after the embattled Gold Coast dental company reported a $31 million statutory loss.
Ford class action judge considers cash security in ‘war and peace of discovery’ disputes
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The judge overseeing the long-running class action over allegedly faulty Ford PowerShift transmissions has told the applicants they might need to put up considerable cash security to cover the “war and peace of discovery” disputes, after Ford slammed the delayed request for documents as “complete and utter nonsense”.
NBN gets ACCC warning for ‘serious breach’ of non-discrimination obligations
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The Australian Competition and Consumer Commission has issued a formal warning to national broadband network operator NBN Co for what the regulator called a “serious breach” of its non-discrimination obligations to retail service providers.
Examination proceedings brought against Linchpin Capital directors
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Three former directors of billion-dollar financial advisory firm Linchpin Capital Group will face two days of questioning in examination proceedings filed on behalf of an investor five months after the company was wound up for running an unregistered investment scheme and misleading investors.
Aristocrat wins Konami’s tax returns ahead of IP damages hearing
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Gaming giant Aristocrat Technologies Australia can look over the tax returns of rival Konami Australia as the two companies prepare for next week’s hearing over how much Konami should pay in damages for patent infringement.
Apple can patent iPhone swipe invention, Patent Office says
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Silicon Valley giant Apple can patent an iPhone configuration that allows users to swap out a set of icons with a swipe of the screen while leaving other unchanged, overcoming an examiner’s objection that the invention is obvious and lacks inventive step.
Ernst & Young strikes out with third party claims against failed LM Investment
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Ernst & Young, which is facing a lawsuit brought by the receiver of a fund overseen by failed financial services firm LM Investment Management, has lost its bid to file a claim for damages against LMIM, with a judge saying the auditor’s case was “flawed” and “counterintuitive”.
‘Completely out of control’: fresh funding concerns emerge in Iluka class action
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The judge overseeing a class action against mineral sands producer Iluka Resources has slammed the submissions from both sides over a bid for an extra $2.6 million in security for costs, calling them “completely out of control” and “totally out of proportion”.
ANZ to set aside additional $485M for post Hayne customer remediation
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ANZ has announced it will set aside an additional $485 million to remediate customers affected by its fees and interest calculations, just days after NAB told shareholders it would set aside a further $1.18 billion to compensate customers affected by dodgy fees and advice.
Court can order security against funders in Fair Work class actions, judge rules
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A landmark ruling has found judges have the power to order security against litigation funders backing Fair Work class actions, in a decision that could change the landscape of representative proceedings.