Trials
Meta reaches mid-trial settlement in competition case by start-up
Instagram owner Meta has settled a competition case brought by a marketing company that alleged the social media giant engaged in anti-competition conduct when it barred the start-up from accessing the platform in 2019.
Insurance
Choosi misled customers about comparison service, judge says
In a win for ASIC, a judge has found Choosi misrepresented that its service compared policies from a range of funeral and life insurers, when just two brands were compared.
Securities
Beach Energy settles shareholder class action for $43.5M
Oil and gas company Beach Energy has agreed to pay $43. 5 million to settle a shareholder class action on the eve of trial.
M&A
Macquarie unit acquires half of Aware Super’s Victorian land registry stake
Macquarie Asset Management has acquired half of Aware Super’s Victorian land registry stake, with law firm Allens advising the superannuation fund on the deal.
Financial Services
Former Sequoia boss banned for 10 years over Shield, First Guardian
Former Sequoia CEO Garry Crole has been disqualified for 10 years for his oversight of subsidiary Interprac, whose representatives advised thousands of clients to invest in the failed First Guardian and Shield funds.
Securities
Corporate Travel Management, PwC face class action investigation
Corporate Travel Management and PricewaterhouseCoopers may face a class action over financial misreporting after the travel management company said in April that it would reverse $220 million in revenue after a review found it had overcharged customers.
Energy & Natural Resources
Court tosses Lighthouse’s $600M suit against East Timor
A judge has tossed oil company Lighthouse's $600 million suit against the government of East Timor after it failed to provide $1.3 million in security ahead of trial.
Class Actions
Hyundai, Kia want class closure after warranty data reveals single claim
Hyundai and Kia are calling for court orders that drivers sign up if they want a slice of any settlement in defects class actions, pointing to data that shows just one of 400,000 group members has made a claim on their vehicle warranty.
Appeals
Ex-NAB unit urges High Court to pass on conflicted remuneration case
Former NAB super fund trustee NULIS Nominees has urged the High Court to reject a special leave application in a failed class action over $165 million in conflicted remuneration, saying the appeal is highly fact-specific and doesn't raise a matter of public importance.
