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A judge has signed off on a $40 million settlement reached in shareholder class action against Sirtex, including a $10 million cut for the funders, saying commission rates should reflect the risks taken by funders.
Facebook, Instagram were entitled to block Aussie startup’s access, court told
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Facebook and Instagram have denied allegations they breached Australia’s competition law when they terminated the accounts of a Melbourne-based startup, saying they were entitled to block the company from their platforms.
Regeneron steps up opposition to Kymab’s human rat patent
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US biotechnology company Regeneron Pharmaceuticals has filed a Federal Court challenge after losing its opposition to a patent application by UK biopharmaceutical company Kymab for a method of producing an animal with part-human DNA.
Jack de Belin drops appeal of NRL no-fault stand down rule
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Rugby league player Jack de Belin has dropped his appeal of a ruling dismissing his challenge to the National Rugby’s League “no fault” stand-down rule.
Clive Palmer can’t shut down Queensland Nickel liquidation trial
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Businessman Clive Palmer has lost an application to put a stop to a trial in a case brought by the liquidators of collapsed Queensland Nickel after arguing the proceeding was continuing largely to pay the litigation funder bankrolling the case.
Norwegian shipping company hit with criminal cartel charge
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Norway-based shipping company Wallenius Wilhelmsen Ocean AS has become the third international shipper to be charged with price fixing in Australia, just three weeks after Japan’s K-Line was hit with a record $34.5 million fine over the same alleged cartel.
Westpac lightens class action load with $23.25M in payouts
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Westpac has recently agreed to pay a combined $23.25 million to settle two class actions against it, cutting the number of class actions the bank is facing in half.
IP Australia stubs out British American opposition to Philip Morris cigarette pack patent
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IP Australia has dismissed opposition by British American Tobacco to a patent sought by rival cigarette company Philip Morris that covers a resealable cigarette packet that claims to provide an improved experience for smokers.
You can’t have your contract and eat it: electing not to terminate
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A party to a contract may be precluded from enforcing a contractual right if it has acted in a way that is clearly inconsistent with that right under the doctrine of election. Recently, the NSW Court of Appeal applied the principles of election to a complex factual scenario and the lesson from the decision is this — if you have a right to terminate a contract, you should expressly communicate your intentions to the other party as soon as possible after the right to terminate enlivens, says McCabe Curwood managing principal Andrew Lacey.
Security ordered in light rail class action amid $2.26M Lander & Rogers discovery bill
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The NSW Supreme Court has ordered the lead plaintiff in a class action over the Sydney light rail construction project to pay $1.25 million in security for costs to Transport for NSW ahead of discovery, which is expected to cost $2.26 million.