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Infrastructure services company Downer EDI has been hit with a class action after revealing “accounting irregularities” that sent its share price tumbling.
Judge calls out ‘ego and hubris’ in Murdoch defamation case
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The judge overseeing a defamation action brought by Fox News CEO Lachlan Murdoch over a Crikey article that allegedly linked him to the January 6 riot on the US Capital has questioned the “scorched earth policy” taken by both sides.
Class action seeks court OK to drop case after teleco contractor fails
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The applicant in an underpayments class action against telecommunications contractor Tandem — which has been stayed since the company entered administration — has asked a court to abandon the case.
Wealth guru Dominique Grubisa hits back at ACCC, says course claims ‘substantially true’
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Dominique Grubisa has denied the Australian Competition and Consumer Commission’s allegation that she misled consumers about her wealth management courses, arguing the claims that owners could sell their homes but retain equity were “substantially true”.
ACCC casts doubt over claimed benefits of ANZ’s $4.9B Suncorp acquisition
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The competition regulator has cast doubt on the public interest argument for the proposed $4.9 billion ANZ, Suncorp tie-up, saying Tuesday the nature, likelihood and extent of the touted benefits had not been substantiated.
ASIC brings first case over unfair insurance contract terms
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The Australian Securities and Investments Commission has brought its first-ever case concerning unfair insurance contract terms, targeting Auto & General Insurance Company’s standard form home and contents insurance agreement.
Banksia class action silk’s wife offers $1.25M settlement
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Companies linked to the wife of the disgraced Banksia Securities class action silk Norman O’Bryan have offered $1.25 million to settle proceedings seeking to recover a $21.5 million judgment for defrauded investors.
Philips class action discontinuance shines light on ‘gap in access to justice’, judge says
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A bid to drop a class action against Philips Electronics over recalled sleep apnea machines showed a gap in access to justice that was “very hard to fill” given the high cost of bringing large scale litigation, a judge has said.
‘Absolutely ludicrous’: Judge pans witness numbers in ISG sex discrimination case
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The judge overseeing a sex discrimination and harassment lawsuit by the only female partner at global technology research company Information Services Group has lashed out at the parties for proposing to call a parade of 16 witnesses and estimating the trial would take three weeks.
Thiess settles underpayments class action by FIFO workers for $858,000
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Mining services company Thiess has settled a class action by fly-in fly-out workers who alleged they were not paid for time spent on the bus travelling home from a Pilbara-based liquefied natural gas processing plant owned by Woodside Energy.