Securities
Law firms slug it out for Paladin Energy class action prize
A contest to run a class action against Paladin Energy played out Monday, with two law firms each positioning themselves as the better bet, one for their funding and resources, the other for their contingency fee rate.
Investigation
WiseTech office raided by AFP, ASIC in probe of Richard White share trades
WiseTech's Sydney office has been raided by federal police and the corporate regulator as part of an investigation into share trading by its billionaire chairman and founder Richard White and three others.
ASIC
ASIC, eToro settlement falls through in novel CFD case
Trial has kicked off in ASIC's first-ever design and distribution suit over high-risk contracts for difference, after an in-principle agreement reached with investment company eToro fell through.
Intellectual Property
Fortescue fails in push for seized docs from green iron start-up
Andrew ‘Twiggy’ Forrest’s Fortescue can't get access to nine million seized documents in its trade secrets spat against green iron start-up Element Zero.
Class Actions
‘You’ve had long enough’: Judge pushes Telechoice class action on after failed talks
The judge overseeing a class action against TeleChoice has told the parties to be “prepared to spend the money” to advance the case after settlement talks stalled, saying the court is “not going to allow this to drag on”.
Intellectual Property
Janssen sues Juno over patent for schizophrenia drug Invega
J&J-owned Janssen Pharmaceutica has sued Juno Pharmaceuticals, alleging the Australian off-patent drug maker is threatening to infringe its patent for a schizophrenia drug by seeking to list its own products on the PBS.
Private equity
Judge rejects Goldstone’s recusal bid in boss’s oppression case
Private equity firm Goldstone has lost its bid to disqualify a judge from a damages hearing after he found it liable for shareholder oppression of its managing director.
Class Actions
Robodebt class action funder wants $71M commission from settlement
The funder of a class action over the Morrison government’s Robodebt scheme will seek a 15 per cent commission at an upcoming settlement approval hearing, a court has heard, after the case settled for a record $548.5 million.
Policy and Regulation
BCA calls for private partnerships, end to red tape as part of infrastructure reform
The Business Council of Australia has released a report calling for policy reforms to facilitate private sector infrastructure development, including changes to the EPBC Act.
AI
Microsoft deliberately concealed AI-free 365 plan, ACCC claims
The ACCC has taken Microsoft to court, alleging the software giant misled 2.7 million customers of its 365 product suite into believing they had to subscribe to its AI assistant Copilot, knowing they were sceptical of the new product.
