Construction firm CIMIC has foreshadowed a fight over āobscureā new pleadings in a two year-old shareholder class action alleging the company failed to keep the market informed about issues with its Middle East operations.
The Australian Securities and Investments Commission has suffered a defeat in proceedings alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, with a judge finding the regulator “ignored the circumstances” in which the product was distributed.
The federal government has flagged reforms to Australiaās privacy laws in the wake of a cyberattack that left the data of up to 10 million current and former Optus customers exposed, including heftier penalties for companies that fail to safeguard usersā personal data.
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 judgeās decision requiring litigation funder Balance Legal Capital UK to give the airline an indemnity in order to bring the proceedings, saying the indemnity āsubstantially 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 Palmerās latest spat with the West Australian government has declined to issue an injunction preventing the state from enforcing liabilities against Palmerās companies Mineralogy and International Minerals under the controversial āPalmer Actā.
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.