Class Actions
High Court asked to clarify test for damages in shareholder class actions
Saying the appeals court committed "fundamental errors" in approaching their claim of loss, the applicants in failed cases against the Commonwealth Bank have appealed to the High Court, in a case that could clarity the elusive test for damages in shareholder class actions.
Class Actions
In Google carriage fight appeal, Piper Alderman claims law firms’ cooperation anti-competitive
Piper Alderman claims a judge erred in finding there was no evidence that an agreement between Maurice Blackburn and Phi Finney McDonald to cooperate in running an ad tech class action against Google was struck for an anti-competitive purpose.
Employment
ASX tried to silence whistleblower, hide governance failures from RBA, lawsuit says
A former contractor at the ASX has alleged the securities exchange was "embarrassed" by governance failures relating to a $200 million technology modernisation program and sought to hide the issues from the Reserve Bank of Australia.
Restructuring & Insolvency
Babcock & Brown liquidator settles all remaining shareholder claims
A judge has signed of on a settlement struck by the liquidator for failed financial services firm Babcock & Brown, which will resolve all remaining and future shareholder disputes, which have beleaguered the liquidator for 12 years.
Financial Services
Macquarie admits failures over Keystone, vows to repay investors
Super trustee Macquarie Investment Management has admitted it failed to act efficiently, honestly and fairly after thousands of members invested $321 million in a Keystone fund under investigation for misusing funds.
AI
Qld’s top judge says lawyers citing non-existent cases risk referral, costs
The Chief Justice of the Queensland Supreme Court has warned lawyers they could be referred to the legal watchdog or face a personal costs order if they file submissions that contain hallucinations produced by generative artificial intelligence.
Intellectual Property
Abbey in ‘pyrrhic victory’ against Virbac over antiparasitic drug patent
Abbey Animal Health has managed only a “pyrrhic victory" in a patent case against rival Virbac over an antiparasitic drug, and must withdraw its Levamox Duo product from the market, a court has found.
Intellectual Property
Puma loses trade mark catfight with Tiger Woods’ sportswear brand
Puma has lost its opposition to a trade mark application by Tiger Woods' golf apparel and equipment brand Sun Day Red, failing to convince the Trade Marks Office that the company's logo is deceptively similar to its iconic leaping cat mark.
Employment
University of Wollongong to pay $6.6M to underpaid staff
The University of Wollongong has agreed to pay over $6.6 million to thousands of underpaid staff members as part of an enforceable undertaking with the Fair Work Ombudsman.
Competition & Consumer Protection
Optus fined $100M for ‘appalling’ sales tactics
A judge has ordered embattled Optus to pay a $100 million penalty for “appalling” contraventions, after the telco admitted staff pressured customers into buying phones they couldn't afford.
