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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.
With Full Court still out, judge vacates trial date in Vocation class action
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Awaiting a Full Court ruling in a case involving similar claims of privilege against self-incrimination by partners at another accounting giant, the judge in a consolidated class action against PricewaterhouseCoopers over its auditing of the failed Vocation has vacated the February trial date.
‘Only briefed yesterday’: Arnold Bloch Leibler barrister raises ire in class action
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Counsel for a class action against Arnold Bloch Leibler alleging negligence over advice to Slater & Gordon has criticised the law firm’s barrister for seeking more time to file a possible dismissal application because he was “only briefed yesterday”, saying the excuse had become an all too frequent one.
Election challengers subpoena ABC for Josh Frydenberg interview in front of Chinese posters
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Two petitioners challenging the election of Treasurer Josh Frydenberg and embattled Liberal MP Gladys Liu have subpoenaed the Australian Broadcasting Corporation and Sky News for interview footage in front of the Chinese language posters at the heart of the dispute.
Female barristers doing more work for less overall pay, new report shows
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A new report from the Law Council of Australia has revealed female barristers are doing more work for less money overall, with equitable briefing improvements outstripped by slow growth in fee parity.
Ex-Dick Smith directors seek damages against Deloitte over $520M float
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Two former Dick Smith directors targeted by dual class actions have expanded their case against Deloitte over the retailer’s 2016 collapse, saying if the company was found liable for shareholder losses then the auditor should be blamed for its shoddy work on the company’s financial statements during its float three years earlier.