Financial Services
Macquarie breached obligations over Shield fund, court finds in ASIC case
Macquarie Investment Management has been found to have breached its obligations after members invested $321 million in Keystone Asset Management's failed Shield fund, but the super trustee will not pay a penalty.
Legal Ethics
‘Please don’t mislead’: Minister tells lawyers not to take hopeless migration cases
An irritated Labor MP has said that taking hopeless migration cases amounts to unconscionable conduct and urged lawyers not to waste their clients' money.
Employment
Judge ‘very disappointed’ by lawyers in Coles, Woolworths class actions
A judge has criticised lawyers acting in underpayments cases against Coles and Woolworths for overly lengthy submissions and a lack of cooperation, saying the dispute has gone “off the rails”.
Privacy & Cybersecurity
Medibank slams ‘illogical’ ruling on Deloitte report in data breach class action
Medibank has criticised a judge’s finding that legal professional privilege did not attach to a Deloitte report commissioned in the wake of a massive data breach, arguing she came to an “illogical” conclusion.
Privacy & Cybersecurity
Class action to fight Optus bid to suppress pleadings ahead of trial
The applicant in a class action against Optus over a 2022 data breach has flagged a fight over the telco giant’s bid to suppress the pleadings in the case, saying group members are entitled to know the case brought on their behalf.
Class Actions
GrainCorp class action defeats security for costs application
A class action by property owners near a GrainCorp factory in rural Victoria has defeated the company's bid for security for costs, with a judge finding the orders would "stultify" the proceedings.
Competition & Consumer Protection
ACCC probes Ampol, BP, others over alleged anti-competitive conduct
The competition regulator has launched an investigation into allegations of possible anti-competitive conduct by four major fuel suppliers amid upheaval in global oil markets arising from the war in Iran.
Intellectual Property
Australian Crawl founders in trade mark fight with ex-drummer
The founders of rock band Australian Crawl have taken their former drummer to court, alleging he registered the band's trade marks without consulting them.
Competition & Consumer Protection
ASIC can pursue case against retailer Snaffle over ‘inflated’ prices
The Australian Securities and Investments Commission has been given the green light to pursue a consumer case alleging defunct online retailer Snaffle charged consumers inflated prices.
ASIC
Forum Finance director banned by ASIC for maximum period
Forum Finance director Vince Tesoriero has been banned from managing companies for five years due to his involvement in the failure of 20 companies, including Forum, through which he and partner Bill Papas defrauded Westpac out of $400 million.
