Securities
BHP settles shareholder class action over Brazil dam collapse for $110M
A shareholder class action over BHP’s disclosures about a Brazilian dam that collapsed 10 years ago has settled for $110 million on the eve of trial, one of a handful of class actions to settle for over $100 million.
Class Actions
Developer wins bid to drop out of cladding class action, one year after trial
The developer of a tower in Mascot which is said to contain combustible cladding can opt out of a class action against 3A Composites and Halifax to bring its own claim for $15 million.
Intellectual Property
Fortescue, Element Zero come to blows over discovery again, raising judge’s ire
A judge has expressed frustration over the fourth discovery fight this year in Fortescue’s trade secrets case against Element Zero, as the green iron startup claims its bigger rival is trying to drag out the litigation.
Class Actions
Harvey Norman faces class action over ‘interest free’ ads
Homegoods retailer Harvey Norman is facing a class action by customers who paid more than they bargained for after being enticed by 'interest free' ads which the Federal Court has found to be misleading.
ASIC
‘Inordinate and disproportionate’: Judge slams ASIC’s case against lender Money3
A judge has rejected all but two claims by ASIC in a suit against car finance provider Money3 and criticised how the regulator ran its case, saying it had consumed an "inordinate and disproportionate amount of the judicial and administrative resources of the court".
Competition & Consumer Protection
Building materials giant CSR hits back at competition case over COVID-19 price increases
Saint Gobain-owned CSR has hit back at building insulation distributor Consolidated Energy's claims it engaged in anti-competitive conduct by increasing its prices during COVID-19, saying the cost increases were due to events beyond its control.
Class Actions
Declassing bid fails in class action over ‘cookie cutter’ legal advice
The peak body for community legal centres has lost its bid to declass a class action alleging survivors of institutional child sexual abuse who settled their claims under the National Redress Scheme were given negligent ‘cookie cutter’ legal advice.
Defamation
Brittany Higgins ordered to pay 80% of Linda Reynolds’ costs in defamation case
Brittany Higgins must cover 80 per cent of Linda Reynolds' legal costs on top of $315,000 in damages the former senator was awarded in her defamation case over social media posts that implied she mishandling Higgins' rape allegations against Bruce Lehrmann.
Tax
Former PwC boss banned for four years over tax leaks scandal
Former PricewaterhouseCoopers CEO Thomas Seymour has been banned from registering as a tax agent for four years, after the regulator found he permitted a culture within the accounting firm of sharing confidential information.
Competition & Consumer Protection
Good Guys hit with $13.5M penalty for misleading customers about store credit
A judge has signed off on a $13.5 million penalty agreed to by retailer The Good Guys for making misleading statements about store credit and StoreCash schemes to customers.
