Please login to bookmark Close
Australia’s merger laws are not fit for purpose and the current approach to merger control needs to be rebalanced, the head of the ACCC has said in setting down the regulator’s agenda for 2021.
Viagogo seeks stay of $7M penalty, citing ‘catastrophic effect’ of COVID-19 pandemic
Please login to bookmark Close
Ticket reseller Viagogo is seeking a stay of a $7 million penalty in litigation brought by the ACCC in light of the “catastrophic effect” of the COVID-19 pandemic, as the company appeals a court’s finding that it misled customers on an “industrial scale”.
Victoria launches royal commission into Crown Resorts
Please login to bookmark Close
A royal commission has been established in Victoria to look into whether Crown Melbourne is suitable to hold a casino licence in the state, following a damning report from the NSW gaming authority.
Priceline staring down class action by irate pharmacy franchisees
Please login to bookmark Close
Pharmacy giant Priceline is the target of an “imminent” class action, with a group of dissatisfied franchisees accusing the company of exercising an “overly prescriptive” level of control over its franchises and fettering profitability.
Union calls for regulation after landmark ruling that Uber drivers are workers
Please login to bookmark Close
The Transport Workers Union is calling on the government to regulate the gig economy in the wake of a unanimous ruling from the UK Supreme Court that found Uber drivers are not independent contractors but workers with the right to entitlements.
Ex-CFO pleads guilty to market manipulation
Please login to bookmark Close
The former chief financial officer of delisted Traditional Therapy Clinics has appeared in court after pleading guilty to market manipulation charges relating to transactions intended to create an artificial share price for the traditional therapy clinic company.
Group members in Guvera class action could be left empty-handed
Please login to bookmark Close
Group members in a class action against Oculus Accounting may not receive a payout after the company’s insurers refused to indemnify it against claims alleging the accounting firm was negligent in prompting an investment in failed music streaming platform Guvera.
Surfstitch class action lawyers’ conduct not ‘egregious’, but payout should be capped, judge says
Please login to bookmark Close
A judge has signed off on a settlement in two shareholder class actions against clothing retailer Surfstitch, but has capped the legal costs and commissions sought by the litigation funders after finding the law firms behind the cases sent out notices to group members that were “misleading” and “understated” the risks of joining the class.
‘Significant shortfall’: Recovery unlikely for investors of accused fraudster Melissa Caddick
Please login to bookmark Close
Creditors of the company run by missing Sydney businesswoman Melissa Caddick are unlikely to recoup their investments, with a court hearing the accused fraudster has just $5,600 in her bank accounts.
Banks will try to quash ‘incomprehensible’ indictment in ANZ cartel case
Please login to bookmark Close
Global investment banks and executives accused of engaging in criminal cartel conduct in relation to a $2.5 billion ANZ share placement in 2015 will seek to quash the “incomprehensible” indictment filed against them, claiming it is full of “fallacies”.