Sydney financier First Class Capital has admitted it acquired three million shares in former market darling Big Un but has denied liquidators’ claims that the purchase was part of a fraudulent design to inflate the share price ahead of the video start-up’s collapse.
Online broker International Capital Markets has been hit with a second class action for selling “excessively risky” derivative products known as contracts for difference to retail investors.
Car repair giant AMA Group has resolved its case against three former executives that sought to block them from poaching staff and customers for competing business Drive Group.
A report by former ACCC head Allan Fels has found that corporate greed and lack of competition is to blame for the continued high prices experienced by Australians and called on the government to take action to fill the regulatory gaps that allow businesses to engage in price-gouging.
The Greens have struck a deal with the Albanese government to legislate a right to disconnect, which could see employers fined if they make unreasonable contact with employees outside of work hours.
Telstra has won its bid to vacate a hearing in a case by former contractor Kingfisher Mobile seeking to bar the telco from migrating customers to a new mobile services provider, after a judge found Kingfisher’s delay in filing the case meant meeting the date would be unfair.
Practitioners have marked the passing of former NSW Supreme Court Justice Andrew Rogers KC, who will be remembered for transforming commercial litigation through his vigorous, often “brutal” approach to case management.
A judge has signed off on a 27.5 per cent group costs order in a consolidated shareholder class action against Medibank over a cyberattack that affected 10 million customers, noting the “significant risk” taken on by the two plaintiff law firms running the action.
Two firms have agreed to consolidate their class actions against online trading platform IG Markets over risky CFDs, but the company failed in a bid to have the two funders behind the cases liable for 100% of any security for costs order lest one funder defaults.
US consumer goods giant 3M is facing a possible class action on behalf of members of the Australian Defence Force who allegedly suffered hearing loss from defective combat earplugs.
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