Blue Sky Alternative Investments could be facing a class action after a report by a U.S. hedge fund that found the Australian fund manager had exaggerated its assets under management and the performance of its investments, while also collecting excessive management fees.
Slater and Gordon is mulling a class action on behalf of women who suffered complications after receiving a pelvic mesh implant, in the wake of a damning parliamentary report on the controversial devices.
A judge on Wednesday refused a bid by Australian mortgage aggregator Connective Group to put on hold a derivative lawsuit by a shareholder against the company’s bigwigs over the sale of 25 percent of the business to Macquarie Bank, saying there were no special circumstances justifying a stay.
The Australian Competition and Consumer Commission has raised concerns about MYOB’s proposed bid for Reckon’s accounting unit, saying it could substantially lessen competition in the market for accounting software.
A long-awaited congressional report has called for an overhaul of medical device regulation in Australia, in the wake of a system-wide failure to protect women who suffered “devastating” consequences after being implanted with faulty vaginal mesh products.
Companies that manipulate financial benchmarks will face specific civil and criminal penalties under changes to the law made by the government today, in the wake of $100 million in settlements by two of Australia’s largest banks last year over claims they manipulated the bank bill swap reference rate.
A judge on Wednesday issued his reasons for refusing a bid by a former Norton Rose Fulbright lawyer to move scheduled mediation of the case out of Sydney, and he didn’t pull any punches.
The Australian competition regulator has delayed its decision on the proposed $1.3 billion merger of dairy giant Saputo with Australian milk co-op Murray Goulburn to consider feedback from market participants.
Australian biotech company Holista Colltech has resolved litigation over ASX announcements that said it was collaborating with a Nobel Prize nominee to file a patent for the world’s first low-GI sugar.
CSIRO has won a challenge to an application for a mining patent filed by mining giant Rio Tinto, with an IP Australia delegate finding no patentable subject matter could be claimed.
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