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A settlement has been reached in two class actions brought on behalf of holders of debentures who allege they suffered losses due to Australian Executor Trustees’ mismanagement of debenture issuer Provident Capital.
No holds barred in GetSwift class action challenge
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The naming of Squire Patton Boggs as a concurrent wrongdoer in GetSwift’s defence puts the law firm in an “impossible position of conflict of interest” if it wins a challenge to an order staying its class action against the company, the Full Federal Court has been told ahead of a highly anticipated appeal hearing that promises to pull no punches.
ASIC loses bid for interim receiver against AGM, OT, Ozifin
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A judge has denied ASIC’s bid to appoint an interim receiver to preserve the assets of three financial services companies that advised clients to invest in complex derivatives, which ASIC is seeking to have wound up for alleged violations of the Corporations Act.
Privilege not waived by DLA Piper phone call over Circadin patent
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Two generic drug makers have lost their bid for confidential documents related to Neurim Pharmaceuticals’ patents covering sleep drug Circadin, with a court ruling legal professional privilege was waived in a phone conversation between a DLA Piper lawyer and the company’s founder.
Rival poppy producers face off again over codeine patents
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Two rival poppy processors are facing off in another courtroom battle over patents for high codeine-yielding poppy plants.
Cash Converters ordered to produce data on individuals that took out payday loans
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Cash Converters has been ordered to turn over information on people it provided payday loans to in Queensland in a class action alleging it charged a brokerage fee to borrowers for services they never received.
Judge doubtful of ‘injustice’ facing Appco in class action
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Fundraising company Appco told a judge Friday that it faced an ‘injustice’ if a wage case were allowed to proceed as a class action on behalf of over 1,000 workers, but the judge was not impressed, saying the argument made ‘no sense’ to him.
Ex-Kagara directors reach deal in shareholder class action
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Eight former directors of failed mining company Kagara have settled a shareholder class action alleging they misled investors and falsified the company’s accounting records, the Federal Court heard Friday.
AMP sets aside $290M for customer compensation
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Embattled financial giant AMP has moved to regain customer trust, allocating $290 million to compensate customers going back 10 years, the company told shareholders Friday.
Yazaki unit appeals price fixing fine to High Court
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A unit of Yazaki Corp is seeking High Court approval to file an appeal after the Full Federal Court handed down a record $46 million penalty against the car parts maker for colluding with a competitor on prices for wire harnesses supplied to Toyota.