The Australian Securities and Investments Commission has filed long-awaited action against troubled tech company Nuix and a handful of former and current directors over allegedly misleading revenue announcements to investors.
The applicant in an investor class action against Virgin Australia plans to appeal a judge’s decision requiring litigation funder Balance Legal Capital UK to give the airline an indemnity in order to bring the proceedings, saying the indemnity “substantially changes the risk calculus” for group members.
The judge overseeing a class action against US medical device maker Boston Scientific is considering appointing a contradictor to look over the $105 million settlement reached in the case, despite seeing no obvious obstacle to approving the deal.
A judge overseeing mining magnate Clive Palmer’s latest spat with the West Australian government has declined to issue an injunction preventing the state from enforcing liabilities against Palmer’s companies Mineralogy and International Minerals under the controversial ‘Palmer Act’.
The Federal Court has overturned the ex-tempore ruling of a judge who has been taken to task in strongly-worded appeals court decisions on numerous occasions, saying his latest findings were flawed and illogical.
Attorney-General Mark Dreyfus has announced legislation to establish a federal anti-corruption commission by mid-2023, pledging $262 million over four years to the body, which will have broad and retrospective powers to investigate public corruption.
The state of Victoria has brought criminal action against the DHHS over its handling of the hotel quarantine debacle in 2020 and wants to push off separate class action proceedings until the charges are heard.
Westpac has criticized the lead applicant in a class action filed in the wake of AUSTRAC proceedings for the “disorderly” conduct of the lagging proceedings, with discovery yet to be finalized as the case nears its third anniversary.
A judge has found that dairy processor Lactalis Australia breached a mandatory industry code between farmers and processors requiring it to publish milk supply contracts on its website.
The founder of beleaguered investment group Mayfair 101, James Mawhinney, has won an appeal against a decision that saw him banned from soliciting funds or promoting any financial product for 20 years.