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Online fashion retailer Surfstitch has reached an in-principle settlement in two shareholder class actions, about nine months after an initial agreement to resolve the dispute derailed.
Target, Big W admit breaking the law in dealings with customers, ACCC says
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Retailers Target and Big W have admitted they breached the consumer laws and potentially misled customers complaining about faulty Sony PlayStations and Dyson appliances, the ACCC said Tuesday.
Sydney Metro loses bid for Tiffany & Co chats in dispute over flagship store
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High-end jewellery retailer Tiffany & Co has won its bid to block Sydney Metro from accessing privileged documents in a dispute over the compulsory acquisition of its store in Sydney’s Martin Place for the $2.7 billion Sydney Metro rail project.
Full Federal Court reimposes ban on Prime Trust directors
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The Full Federal Court has reimposed bans against four former directors of collapsed retirement village owner Prime Trust, including former federal health minister Michael Wooldridge, following a successful High Court challenge by the Australian Securities and Investments Commission.
Aristocrat goes ‘too far’: Konami tells court pokie patent damages should be proportional
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Aristocrat Technology has gone “too far” in seeking full profits from the sale of Konami Australia’s infringing pokie machines, with Konami arguing the court should calculate damages in relation to what proportion of its machines were created using components that infringe the gaming giant’s patent.
Ex-fintech CEO wins $2.2M in damages after unlawful dismissal
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The former CEO of financial software firm GBST has been awarded more than $2.2 million in damages, with a court finding he was wrongfully terminated by the company amid unsubstantiated allegations of insider trading.
Farooq Khan, other directors breached their duties in battle over Keybridge Capital, court says
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Perth-based Farooq Khan has lost a key case in the battle for control over investment firm Keybridge Capital, after a judge invalidated a board decision to suspend activist investor Nicholas Bolton as CEO and terminate chair John Patton on the basis of Khan’s breach of his directors’ duties.
State Street drops Fearless Girl trade mark case against super fund
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US asset management firm State Street has dropped its trade mark claims against a second superannuation fund over its iconic Fearless Girl statue, leaving law firm Maurice Blackburn as the lone defendant as a November trial date approaches.
ACCC probe to put spotlight on NBN wholesale pricing
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The consumer watchdog has launched an inquiry into wholesale NBN charges paid by retailers, focusing on whether pricing for basic broadband products was fair and affordable.
Big Four banks face ACCC probe over refusal to pass on home loan interest rate cuts
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The ACCC will immediately commence a wide-ranging homes loans inquiry at the direction of the Federal Government, including an investigation into the banking sector’s refusal to pass on interest rate cuts to consumers in full.