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Investors in Mayfair Group’s collapsed IPO Wealth Fund are set to recoup only a fraction of their alleged $67 million losses in a best-case settlement of a class action alleging the fund’s trustee misled unit holders.
Humm points finger at Forum Finance in SMBC’s $34M lawsuit
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Fintech Humm has admitted to making “misrepresentations” to Japanese bank SMBC over allegedly worthless receivables linked to Forum Finance but has denied it was negligent, claiming a Forum Group unit should share the burden of paying any damages in the $33.6 million lawsuit.
Crown wants contradictor to fight class action’s GCO application
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Crown Resorts has asked the court to appoint a contradictor to fight against a group costs order sought in shareholder class action accusing the casino giant of lax anti-money laundering compliance over a six-year period.
University of Melbourne admits manager called academic ‘self-entitled Y-genner’
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The University of Melbourne has hit back at the Fair Work Ombudsman’s allegations that it took adverse action against two casual academics to prevent them from claiming payment for extra hours worked, but admitted a supervisor penned an email referring to one of them as a “self-entitled Y-genner”.
Foxtel loses six-year battle with Cognizant unit over digital download patent
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Cable TV giant Foxtel has lost a protracted IP battle with subsidiary of global tech giant Cognizant over a digital download patent for a modern DVR system.
Judge declasses Wilson Security class action over objections from group members
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Despite objections from numerous group members, a judge has tossed an underpayments class action brought by a self-represented applicant against Wilson Security, ruling that class actions should not be run without lawyers.
KordaMentha launches financial crime service with new acquisition
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Save (1) Please login to bookmark Close Username or Email Address Password Remember Me Responding to increasing crackdowns on anti-money laundering and counter terrorism breaches, Melbourne consulting firm KordaMentha has merged with Australian advisory firm Murray Waldren Consulting to form a new financial crimes service. The partnership comes off the back of damning reports by…
Law firm heads sing praises of ‘compassionate’ new High Court judge
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For many in the legal profession the choice of Justice Jayne Jagot to replace the outgoing Justice Patrick Keane on the High Court, heralding a new era of judicial diversity on the top bench, was hardly a surprise.
Grant Thornton, Moore Stephens sued over Linchpin audits
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Embattled investment firm Linchpin Capital has sued auditors Grant Thornton and Moore Stephens for signing off on the compliance plan for a registered fund that allegedly used investor money to advance the company’s business interests and line its directors’ pockets.
Full Court upholds validity of Pfizer’s Dynastat patent
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A judge has thrown out competing appeals of a decision finding Pfizer’s patent for its post-operative injectable painkiller Dynastat is valid and that Australian drug maker Juno Pharmaceuticals infringed the patent by selling generic versions of the drug in Australia.