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The trial in ASIC’s complex share market manipulation action against Whitebox Trading began Monday, with an opening submission by the corporate regulator that at times had even the presiding judge scratching his head.
7-Eleven can make private settlement offers to class members, court says
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A judge has found 7-Eleven is free to make confidential settlement offers to individual members in two class actions brought by franchisees, shooting down a bid by the applicants’ lawyers to get the court involved in the convenience store giant’s communications with class members.
V Energy maker sees red, loses colour trademark battle with Coke
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The maker of V Energy drinks has lost a fight to trademark the shade of green used on its cans and labels, with a judge agreeing with rival Coca-Cola that the colour was descriptive, not distinctive.
Cash Converters must answer questions on tax treatment of brokerage fees
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A Federal Court judge has ordered Cash Converters to provide answers to how it treated its brokerage fees for tax purposes, as it faces new class action allegations that the brokerage fees it charged individuals who took out pay day loans were actually for services it received.
Commonwealth Bank hit with new class action over money-laundering breaches
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Commonwealth Bank of Australia is facing a second shareholder class action after agreeing to fork over $700 million to settle anti-money laundering claims by the government’s financial intelligence agency.
Saputo unit agrees to fix contract terms after ACCC raises concerns
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A unit of dairy giant Saputo has agreed to amend the terms of its contracts with dairy farmers, in the wake of calls by the ACCC for a mandatory code of conduct to level the playing field between dairy farmers and milk processors.
Business as usual as Clayton Utz reps AMP in ASIC case
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Clayton Utz, the law firm that faced scrutiny over the independence of a report it authored for AMP, is representing the wealth manager in ASIC’s case over so-called insurance churning.
Mattel tells court transformable toys nothing new
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Toy giant Mattel is fighting back against claims that its Mecard toys violate Canadian toy company Spin Master’s patent for a toy transformation mechanism, claiming transformable toys are nothing new and that Spin Masters’ patent is invalid.
Dover founder leaves financial services industry for good
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The founder of Dover Financial Advisers will never work in the industry again, he has told the Australian Securities and Investments Commission as part of a court-enforceable undertaking that also strips the firm of its operating licence.
D’Aquino Bros served suit for ‘flagrant’ infringement of Scotch Whisky trade mark
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Liquor distributor D’Aquino Bros has been taken to court again, accused for the fourth time of “flagrant” trade mark infringement for continuing to sell products under the name, Scotch Whisky.