Construction giant Boral has lost its bid to block a class action from running a ‘novel’ argument that shareholders suffered loss because of natural fluctuations in share price, rather than as a direct result of alleged continuous disclosure breaches.
Russia’s largest aluminium producer UC Rusal has lost a breach of contract lawsuit brought against six Rio Tinto companies after they refused to deliver alumina under a joint venture agreement on the basis that doing so would cause them to run afoul of export sanctions imposed after Russia invaded Ukraine.
Mercedes-Benz dealers have appealed a judgment that found their $650 million lawsuit against the luxury car maker over its decision to move to a fixed-price agency model tried to “rewrite the contractual bargain” they had agreed to in order to better suit their commercial interests.
Webb Henderson has snagged a leading litigation and regulatory partner from Corrs Chambers Westgarth to join its team in Sydney.
A law firm that lost a contest to run a class action against Toyota unit Hino has appealed a decision to give the case to a larger rival based on past experience, saying the ruling would act as a deterrent to smaller firms wanting to enter the market for group proceedings.
A judge has reluctantly hit Westpac with a $1.8 million penalty after the bank admitted to unconscionable conduct when trading on the morning of a $16 billion deal to privatise electricity provider Ausgrid, saying it was the maximum fine allowed under the relevant law.
Australian IP lawyers are closely watching The New York Times’ copyright lawsuit seeking billions in damages from OpenAI and Microsoft, but it remains to be seen whether Australia will become a favoured jurisdiction for similar suits or be left playing catch up, experts say.
The current owners of vitamin giant Nature’s Care have won an urgent injunction against the company’s founding family, after a judge said it appeared they were trying to regain control of the corporate group.
Telstra will oppose a bid by former contractor Kingfisher Mobile to bar the telco from migrating customers to a new mobile services provider, saying that undoing the move would be like “turning around the Titanic”.
Defending allegations that its popular weed killer Roundup is carcinogenic, agrochemical giant Monsanto has accused the class action of having its “finger on the scales” when presenting scientific evidence to the court.
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