A Federal Court judge on Friday reluctantly approved a $12 million settlement in the long-running class action against Bank of Queensland, saying it left almost nothing for those affected by the notorious Sherwin Ponzi scheme.
In a major loss for the ACCC, the Full Federal Court on Friday tossed the competition regulator’s challenge to a ruling that drug giant Pfizer did not misuse its market power in the months leading up to the expiration of the patent for its blockbuster cholesterol drug Lipitor.
Troubled sandalwood oil producer Quintis has been hit with a third class action over the company’s lost contract with Nestle unit Galderma, and this time its auditor, Ernst & Young, has been named as a co-defendant.
A settlement has been reached in a lawsuit between Woolworths and US home improvement giant Lowe’s over a failed joint venture for a chain of hardware stores in Australia.
AMP’s group company secretary David Cullen has been appointed top in-house lawyer, replacing Brian Salter, who was sacked for his role in the fees-for-no-service scandal.
Debt management firm Fox Symes will pay $37,800 in penalties for misleading advertising, including its promise that customers could secure lending approval in 15 seconds.
Bega Cheese has brought new allegations against Kraft in their dispute over who owns the rights to the signature Kraft peanut butter packaging in Australia.
Cash Converters has agreed to pay $650,000 in a settlement with ASIC after the regulator found the retail pawnbroker routinely breached guidelines governing debt collection.
Westpac Banking Corp. engaged in unconscionable conduct when it traded in bank bills in an attempt to influence the benchmark Bank Bill Swap Rate on four occasions, a Federal Court judge ruled Thursday.
Gaming giant Aristocrat has commenced legal action against rival Ainsworth, claiming a “controversial” game designer used confidential information to develop a competing slot machine.
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