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There is a “reasonable chance” that two shareholder class actions against failed electronics retailer Dick Smith will settle by February of next year, group members have learned.
ISignthis sues ASX over suspension, says exchange went ‘looking for a problem’
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Melbourne-based fintech company ISignthis is taking the Australian Stock Exchange to court for refusing to lift the suspension of its shares and allegedly digging for confidential information to “find a problem”.
Engineer blamed for design defects in Opal Tower class action
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The construction company behind Sydney’s Opal Tower has filed a cross claim seeking $30 million from structural architect WSP Structures over its allegedly faulty building design.
JPMorgan witnesses grilled as banks seek to poke holes in ANZ cartel case
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Two key witnesses from JPMorgan have been grilled by lawyers for three major investments banks named in a high-stakes criminal cartel case as the banks seek to cast doubt on how the ACCC gathered evidence during its almost two-year cartel investigation.
Coles to pay $5.25M to Norco dairy farmers after ACCC investigation
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Coles has agreed to pay about $5.25 million to dairy co-operative Norco after an investigation by the Australian Competition and Consumer Commission found the supermarket giant failed to pass on the full price rise it charged consumers for Coles-branded fresh milk as it promised to do.
Higher commission rates, more closed class actions to follow High Court ruling
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The end of the common fund order is a setback for class actions that will see a revival of the days of closed proceedings, costly bookbuilding, higher commission rates and the shelving of worthy but risky cases, experts say, and all eyes will now turn to state and federal governments to see how they respond to calls for legislative intervention.
Israel Folau settles dispute with Rugby Australia over dismissal
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Former Wallabies fullback Israel Folau has settled his lawsuit against Rugby Australia and NSW Rugby alleging his $5.7 million contract was unfairly terminated over homophobic social media posts.
AMP group exec says bullying claims by former GC were news to her
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AMP’s group executive says she was never told of bullying claims made against her by former general counsel Larissa Cook until the lawyer filed a $2.7 million lawsuit alleging “hostile, aggressive and intimidating behaviour” in response to complaints she made about AMP’s fees for no service conduct.
Sony skips level in ACCC’s PlayStation lawsuit
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A Federal Court judge has vacated a hearing on liability in the Australian Competition and Consumer Commission’s lawsuit against Sony alleging the entertainment company misled gamers who purchased faulty PlayStation games.
Judge allows hindsight evidence in lawsuit over Metal Storm’s collapse
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A US institutional investor can use hindsight evidence in its breach of contract case against a former ANZ Bank trustee over the winding up of failed defence tech firm Metal Storm.