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The ACCC has taken its long-running battle over access fees at the Port of Newcastle to the Federal Court, challenging a re-arbitration decision that overturned its finding that the fees should be cut by 20 per cent.
Firms will seek up to $6M at SurfStitch class action settlement hearing
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The funders behind two shareholder class actions against online fashion retailer Surfstitch Group will seek a commission of up to 30 per cent while the law firms that brought the cases will ask for approval of up to $6 million in legal fees during an upcoming settlement approval hearing, which also puts the fate of a deed of company arrangement that saved the company from liquidation on the line.
Judgment day in $1B Queensland floods class action
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Eight years after floods in Southeast Queensland destroyed more than 2,000 homes, a judge will deliver his ruling in two class actions seeking a record $1 billion in damages, and the decision could well come down to which of two conflicting flood modeling reports the judge sides with.
CBA unit hit with $700,000 criminal fine for insurance hawking
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The Commonwealth Bank of Australia’s insurance division, CommInsure, has been fined $700,000 for breaching insurance hawking laws in Australia’s first post-Royal Commission criminal conviction, dodging a maximum fine of over $1.8 million through an early guilty plea and cooperation with ASIC.
Cross claims against Deloitte dropped in Dick Smith class actions
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Accounting giant Deloitte Touche Tohmatsu will not face cross claims over the collapse of failed retailer Dick Smith when a hearing of three shareholder class actions kicks off in three months.
Funder’s cut, legal fees face scrutiny in second Murray Goulburn class action
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The litigation funder financing the second of two recently settled shareholder class actions against Murray Goulburn will face similar scrutiny over its commission as the funder behind the first action.
Bellamy’s to pay $49.7M to settle shareholder class actions
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Infant food maker Bellamy’s has agreed to pay $49.7 million to settle two shareholder class actions alleging the company misled investors in 2016 about its China growth strategy and declining infant formula market share in Australia.
Israel Folau ups damages claim against Rugby Australia to $14M
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Former Wallabies player Israel Folau, who was sacked over homophobic social media posts, has increased the damages he is seeking in his unfair dismissal case against Rugby Australia, calling for $14 million in compensation as “Australia’s best player”.
Struggling tech firm Irexchange accused of misleading shareholders in new suit
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Troubled retail technology firm Irexchange is accused of misleading shareholders through three different capital raising offers, according to a new Federal Court case brought by investors who sunk over $4.5 million into the company.
‘We will work on that’: Sexual harassment suit says ex-councillor persisted with advances despite complaint
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A local businessman and former local council member behind a dramatic change in Victoria’s trading hour laws has been sued for sexual harassment by a former employee who alleges he continued to contact her even after she expressed discomfort with him trying to touch her, allegedly telling her “we will work on that”.