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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.
Murray Goulburn class can’t get docs to pursue Herbert Smith Freehills
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The lead applicant in a class action against Murray Goulburn has lost a bid for access to documents showing the dairy cooperative’s trust consulted with a QC about possible negligence claims against Herbert Smith Freehills.
CrownBet was ‘controlling mind’ behind Betstar cybersquatting: WIPO
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The World Intellectual Property Organisation has found bookmaker CrownBet was the “controlling mind” behind the cybersquatting of four domains that allegedly violated rival Betstar’s trade marks.
Australia wins WTO case on plain tobacco packaging
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In a landmark ruling, the World Trade Organisation has backed Australia’s controversial law imposing plain packaging on tobacco products, finding the law did not violate intellectual property rights.
Ford class action trial date vacated for ‘procedural failures’
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The judge overseeing a massive class action against Ford over its PowerShift transmission has vacated the trial date, blaming the lead applicant’s numerous “procedural failures”.