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Australian Securities and Investments Commission deputy chair Daniel Crennan has quit his post after questions emerged over $70,000 in rental assistance payments to the regulator’s enforcement head.
Carnival looks to axe overseas passenger claims in Ruby Princess class action
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A fight is brewing over whether US and UK passengers aboard the Ruby Princess should be part of a class action against cruise operators Carnival and Princess Cruise Lines over their handling of a deadly coronavirus outbreak on the ship that has been linked to at least 20 deaths.
Ripple Labs denies PayID is deceptively similar to trade mark of Aussie mobile banking system
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US cryptocurrency maker Ripple Labs has hit back at an intellectual property lawsuit brought by the Australian company behind the ubiquitous PayID mobile banking system, saying its PayID trade mark is neither substantially identical nor deceptively similar to the Aussie mark.
Law firm investigating expanded Crown class action amid anti-money laundering probe
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Maurice Blackburn is looking at potentially expanding its shareholder class action against Crown Resorts after it emerged at the NSW gaming authority inquiry that the casino giant may have breached anti-money laundering laws.
Worley prevails in rare judgment dismissing shareholder class action
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A judge has sided with Worley in a ruling tossing a class action after a trial alleged the engineering company misled shareholders and breached disclosure rules by issuing an overly positive earnings guidance of $322 million for the 2014 financial year.
CBA fined $150,000 for increasing problem gambler’s credit card limit
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The Commonwealth Bank of Australia has been fined $150,000 after a Federal Court judge found the bank had breached the law by increasing a problem gambler’s credit card limit but that the conduct was “not systematic, deliberate or covert”.
Clive Palmer’s $21M offer to drop 14 lawsuits rejected by Coolum villa owners as ‘insane’
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An offer by billionaire Clive Palmer to pay $21 million for all remaining shares in villas at the Palmer Coolum Resort in Queensland and drop 14 lawsuits over resort ownership has been rejected by villa owners.
Judges unclear about Johnson & Johnson unit’s arguments in pelvic mesh appeal
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A judge due to hear a high profile appeal by Johnson & Johnson unit Ethicon has expressed confusion about the grounds on which the medical device maker is challenging a landmark judgment putting it on the hook for potentially hundreds of million of dollars in damages over faulty pelvic mesh implants.
ASIC chair James Shipton steps aside pending review of relocation expenses
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ASIC chairman James Shipton has temporarily stepped aside pending an independent review of $118,000 in payments made to the regulatory head linked to his relocation from the US in 2018.
Surfstitch class action lawyers accused of breaching duties to shareholders
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The lawyers behind two class actions against clothing retailer Surfstitch breached their duties to act in the best interests of shareholders, and their conduct should bar them from pocketing more than $6 million claimed in costs and commission in the protracted litigation, a court has heard.