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A tax agent and accountant who conducted multiple tax exploitation schemes between 2011 and 2015 has been hit with a $22.7 million penalty, the largest ever against a tax promotor.
PwC takes swipe at class action over $50M bond prospectus
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PricewaterhouseCoopers is looking to shut down a class action by irate bondholders of collapsed asset finance lender Axsesstoday Limited over alleged misrepresentations in a $50 million bond offer.
Full Court hears government’s $325M fight with Sanofi over ban on Plavix generic
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Pharmaceutical companies Sanofi and Bristol-Myers Squibb are liable for losses to the federal government for excess subsidies it allegedly paid for the blood-thinner Plavix after an unjustified court injunction prevented the release of a generic version of the top-selling drug, an appeals court has heard.
Ponzi schemer who pretended to be a barrister wins resentencing
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A fraudster who robbed victims of $7.6 million by pretending to be a financial investor and barrister has had his jail sentence reduced from 16 years to 12, after a court of appeal heard his original sentence was “crushing” and did not reflect his guilty plea or lack of criminal record.
$37.75M settlement reached in Estia Health class action
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A $37.75 million settlement has been reached in a shareholder class action against Estia Health that accused the aged care provider of failing to disclose difficulties in its 2015 and 2016 acquisition strategy.
Merck Sharpe & Dohme sues Sandoz to block Januvia generic
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US pharmaceutical giant Merck Sharp & Dohme has taken Sandoz to court for allegedly threatening to infringe the patent for its multibillion-dollar diabetes drugs Janumet and Januvia.
GetSwift slammed for ‘unfair attack’ on judge hearing class action, ASIC case
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GetSwift has been criticised for its “quite unfair attack” on a Federal Court judge who refused to disqualify himself from hearing a shareholder class action against the logistics software company after presiding over ASIC’s civil penalty proceeding against the company.
Hyundai faces class action investigation over recalled cars
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South Korean car maker Hyundai is facing a possible class action after it recalled over 90,000 cars earlier this month over safety concerns.
Law firm ordered to cease acting in $51M property spat with ex-client
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A judge has ordered a Melbourne-based law firm to stop acting for property company Xriso in a case against a former client over the terms of a deposit for a $51 million Werribee development in which the firm’s managing partner is likely to be a key witness.
Trial against Mayfair goes ahead undefended, as a muted Mawhinney listens in
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The Australian Securities and Investments Commission presented its misleading and deceptive conduct case against companies in the Mayfair Group in an undefended trial on Monday, while the beleaguered investment group’s director watched the online proceedings as a muted observer.