Cruise ship operator Carnival PLC has flagged a bid for indemnity costs after the lead applicant in a class action over a COVID-19 outbreak aboard the Ruby Princess rejected a $15 million settlement offer.
A law firm is investigating an shareholder class action against lithium battery producer Magnis Energy Technologies and auditor Hall Chadwick after its share price plummeted to four cents late last year.
Maurice Blackburn’s head of employment law in Queensland, Giri Sivaraman, has been appointed as the next race discrimination commissioner, commencing his five year stint in March.
A former PricewaterhouseCoopers partner has sued the firm for denying him retirement payments for moving to alleged competitor DLA Piper and for his alleged involvement in the firm’s tax leaks crisis.
A shareholder class action against livestock exporter Wellard over a profit downgrade following its $300 million initial public offering in 2015 has settled for $23 million.
Australia’s merger review regime is “outdated” and in need of an overhaul, according to the Australian Competition and Consumer Commission, which says companies must explain why their acquisitions should get the all-clear.
SkyCity has reached an agreement with AUSTRAC in proceedings alleging it allowed $4 billion in suspicious transactions, setting aside $73 million to cover penalty and costs.
Construction giant Boral has lost its bid to block a class action from running a ‘novel’ argument that shareholders suffered loss because of natural fluctuations in share price, rather than as a direct result of alleged continuous disclosure breaches.
Russia’s largest aluminium producer UC Rusal has lost a breach of contract lawsuit brought against six Rio Tinto companies after they refused to deliver alumina under a joint venture agreement on the basis that doing so would cause them to run afoul of export sanctions imposed after Russia invaded Ukraine.
A judge has reluctantly hit Westpac with a $1.8 million penalty after the bank admitted to unconscionable conduct when trading on the morning of a $16 billion deal to privatise electricity provider Ausgrid, saying it was the maximum fine allowed under the relevant law.