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.
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.
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.
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.
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.
Australia’s largest potato wholesaler Mitolo Group has hit back at allegations by the ACCC that its contracts with growers were unfair, telling a court the terms were open to negotiation and were necessary to protect the company’s intellectual property.
Myer had an obligation to correct remarks by former CEO Bernie Brookes in 2014 that the department store expected increased profits the following year, because there was no reasonable basis for the statement, a court heard Wednesday at the start of trial in a shareholder class action alleging the company breached its disclosure obligations to the market.
The High Court has denied Prysmian Cavi E Sistemi’s bid for special leave to appeal a $3.5 million fine for allegedly engaging in cartel conduct, a victory for the ACCC in its long-running case against the cable maker.
Eclipx group is looking at a possible shareholder class action following recent drops in its share price after it disclosed that its published profit growth forecasts need to be revised downwards.
The Full Federal Court expressed doubts Tuesday about an “unusual” and “heavy handed” order restraining lawyers leading the stayed class actions against GetSwift from advising their clients about whether to opt out of the prevailing action.
For information on rights and reprints, contact subscriptions@lawyerly.com.au
