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ANZ, Deustche Bank and Citigroup will be hit with criminal charges over an alleged cartel involving the institutional equity placement of ANZ shares that raised $2.5 billion in capital.
Contingency fee ban on lawyers should be lifted, says law reform commission
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Class action lawyers should be able to enter into contingency fee arrangements, the Australian Law Reform Commission said Thursday as part of proposals to reform the country’s much maligned class action regime.
Judge ‘stunned’ at ill-prepared union watchdog
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A lawyer for the Registered Organisations Commission faced the ire of a Federal Court judge on Thursday when he admitted he had no instructions on what penalties the regulator was seeking in a Fair Work case against the CEPU.
CFMEU appeals ‘flawed’ $2.5M penalty over strike
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A ruling imposing a record $2.5 million fine against the Construction, Forestry, Mining and Energy Union had “fundamental flaws”, a lawyer for the union told the Full Federal Court Thursday.
Protracted ACCC review dooms MYOB, Reckon deal
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MYOB has decided to drop its bid to acquire Reckon’s accounting unit due to the ACCC’s extended regulatory review of the tie-up.
Unlockd wins bid to stop Google blocking app in Australia
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Mobile advertising startup Unlockd won a temporary injunction from the Federal Court Thursday barring Google from blocking its app in Australia until further hearing, in the first case to test revamped misuse of market power laws.
Jobs Minister Michaelia Cash to fight AWU subpoena in raids case
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Employment Minister Michaelia Cash vowed Thursday to challenge a subpoena ordered by the Federal Court to appear as a witness in a case over last year’s raids on the offices of the Australian Workers’ Union.
Apple issued warning in NZ as ACCC trial looms
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As Apple gears up to face off against the ACCC next month for allegedly misleading iPhone and iPad users about their rights to have faulty devices repaired free of charge, it has received a fresh warning that it may have violated consumer laws, this time in New Zealand, by setting expiry dates on consumer guarantees.
US blesses Bayer, Monsanto deal with $US9B in divestitures
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The US Department of Justice has secured its largest ever merger divestiture, with Bayer AG agreeing to sell $US9 billion in assets to BASF to win approval of its $US66 billion Monsanto acquisition, a deal that goes far beyond what the regulator’s counterparts in Australia and the European Union required.
Kmart boss misled cargo pants maker in IP spat, court told
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Kmart CEO Guy Russo gave false assurances that the department store had revamped designs for a line of cargo pants and shorts after being warned that it was infringing on the copyright of workwear brand FXD, a new suit alleges.