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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.
Potato wholesaler rejects ACCC’s ‘egregious’ contracts case
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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 stayed silent after CEO’s ‘cloud cuckoo land’ forecast, court told
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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.
High Court won’t hear Prysmian appeal of $3.5M cartel fine
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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 may face shareholder class action
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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.
Full Court questions restraint against class action lawyers
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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.
Westpac dodges ASIC bid for rogue trader chatter
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The corporate watchdog can’t get its hands on documents detailing Westpac’s disciplinary measures against rogue traders or communications between the employees ahead of a penalty hearing in a case that found the bank attempted to influence the Bank Bill Swap Rate.