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A barrister for a class action against Radio Rentals has told the Federal Court the company’s “strange” lease contracts may have been worded solely to avoid its obligations under the Uniform Consumer Credit Code.
S&P settlement approved despite ‘extraordinarily large’ funder fee
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A judge has given the green light to a settlement of seven class actions against ratings agency S&P Global over toxic financial products, saying despite an “extraordinarily large” litigation funding fee the deal was a “significant vindication” of group member claims.
TransUrban to release toll data to win ACCC approval of WestConnex deal
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TransUrban has agreed to release detailed traffic data for its toll roads in New South Wales in hopes of winning the ACCC’s blessing of its proposed acquisition of a majority stake in the $16.8 billion WestConnex highway project.
BHP pays $50M to settle US class actions over Samarco mine
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Mining giant BHP Billiton has reached a $50 million deal to settle the US class action over the 2015 dam failure at the Samarco mine in Brazil.
Crown sues NSW government to protect Sydney harbour views
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Crown Resorts is taking the NSW government to court over development at central Barangaroo that threatens to block its views of Sydney Harbour Bridge and the Opera House.
Iluka Resources says shareholders didn’t read the fine print
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Iluka Resources has shot back at claims in a shareholder class action that it made misleading statements about projected sales volumes, saying the statements were accompanied by extensive disclaimers about its ability to predict future sales.
Politician charged with insider trading of Australian biotech stock
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A New York politician who was one of the earliest supporters of President Donald Trump has been indicted on charges of insider trading related to his investments in Australian biotech firm Innate Immunotherapeutics.
Fitch class action can probe rosy ratings of Sigma Finance
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The lead applicant in an investor class action against Fitch Ratings will get its hands on internal reports detailing why the agency assigned a Triple A rating to Sigma Finance Corporation ahead of its 2008 collapse, and whether it could have predicted the fall of the $27 billion investment fund.
Battle of the experts continues in Queensland flood class actions
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In a case that hinges on the evidence of expert witnesses, the judge overseeing the class action over the 2011 Queensland floods has partly upheld an objection to a revised report by the state of Queensland’s expert regarding an error in the flood-modelling by the plaintiff’s expert witness.
Penfolds maker goes to court over ‘wine in a can’ patents
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Treasury Wine Estates has gone on the offensive in an intellectual property dispute with Melbourne-based “wine in a can” maker Barokes, launching court proceedings alleging the company’s patents are invalid and claiming it made “unjustified threats” against the Penfolds maker.