The lead applicant in a class action on behalf of investors who sank $12.3 million into an allegedly fraudulent sports betting scheme run by convicted conman Peter Foster may drop the case after a partner in the scheme filed for bankruptcy.
The Australian Securities and Investments Commission has placed interim stop orders on two crypto funds distributed by Perpetual Investment Management Limited, citing the need to protect retail clients from investing in risky, volatile funds.
Car manufacturer Jaguar Land Rover has been hit with a class action alleging it misled drivers over vehicles fitted with defective diesel particulate filters.
A judge has questioned a tiered contingency fee arrangement in a proposed group costs order by the law firm running a shareholder class action against Crown, asking whether the lower-end percentages were “meaningless”.
Insurer Allianz has lost its bid to claw back millions in performance bonds provided to collapsed building company Probuild in relation to works at a $1 billion development in the Melbourne CBD.
Australian pharmaceutical company AUPharma has sued the international arm of Purdue, alleging it was wrongly granted patent extensions for several oxycodone products marketed as Targin.
The federal government has foreshadowed a review of Australia’s copyright enforcement regime, citing the need to maintain “a healthy environment for artists.”
The ACCC has secured its first enforcement outcome related solely to the concerted practices provisions of the competition law, in a case that shows the watchdog is willing to take action to prevent what it sees as anti-competitive practices that include sharing sensitive price information, write Gilbert + Tobin’s Jeremy Jose, Sarah Lynch and Katie Latham.
A judge has dismissed a class action brought against animal health giant Zoetis over alleged side effects resulting from its Hendra virus horse vaccine, finding there were “too many uncertainties” in the applicant’s evidence.
A judge has ordered two law firms that filed competing shareholder class actions against failed Blue Sky Alternative Investments and auditor EY to team up to run a consolidated proceeding, despite opposition by one firm.
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