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Noumi has admitted in a case by ASIC to breaching its continuous disclosure obligations by overstating the value of its inventory and failing to give a true and fair view of the company’s financial position.
Clive Palmer can’t hide role as funder of discontinued class action against Telstra
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A judge who previously described as a “schemozzle” a law firm’s attempt to drop a class action over Telstra’s COVID-19 vaccine policy has refused a bid to keep secret Clive Palmer’s involvement as funder of the aborted litigation.
Care A2 Plus denies claims in $200M fight with baby formula distributor Gensco
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Australian infant formula company Care A2 Plus has hit back at a $200 million lawsuit by US business partner Gensco, arguing the distributor did not properly execute the agreement at the heart of the dispute as allegations of phantom companies fly.
Three-way contest looms to run class action against IG Markets over CFDs
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IG Markets has been hit with a second class action for offering “highly risky and unsuitable financial products” to retail investors, with a third competing proceeding in the works.
Blue Sky director points finger at EY in shareholder class action
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A Blue Sky director has pointed the finger at auditor Ernst & Young in a class action alleging the collapsed investment firm misled shareholders by misstating its assets under management.
Commercial barrister appointed to Victoria Supreme Court
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A commercial barrister with expertise in insolvency law has been appointed as an associate judge of the Supreme Court of Victoria.
William Roberts snags Omni Bridgeway APAC head to grow litigation team
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Boutique law firm William Roberts has lured Omni Bridgeway’s former managing director for Asia Pacific to grow its litigation team.
Dixon Advisory class action loses novel bid for docs to use in mediation
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A judge has refused a lead applicant’s novel bid for financial information to use at settlement discussions in a group proceeding against Dixon Advisory.
Dell cops $10M penalty for misleading customers about discounts
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Dell Australia has been ordered to pay a $10 million penalty for making false and misleading representations about the discount prices of add-on computer monitors.
Telstra, TPG give up fight over $1.8B network sharing deal
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Telstra and TPG will not challenge a decision by the Australian Competition Tribunal to uphold the ACCC’s rejection of their proposed regional network sharing agreement.