Drug maker Sanofi-Aventis is not liable for the federal government’s losses for excess subsidies paid for the blood-thinner Plavix after an allegedly unjustified court injunction prevented the release of a generic version of the blockbuster drug, an appeals court has found.
Google has denied class action that it distorted competition in the app marketplace and left consumers paying higher prices, pointing out in its defence there are alternative app stores on its Android platform.
Insurance Australia has agreed to pay a $40 million penalty in a case by the Australian Securities and Investments Commission alleging it short-changed NRMA customers a staggering $60 million in promised loyalty discounts.
Apple has denied it engaged in anti-competitive conduct in operating its App Store in a class action brought over allegedly inflated commissions on certain apps and in-app purchases.
Two executives involved in ANZ’s $2.5 billion equity capital raising have stood by arguments that the book was covered when the bank’s underwriters took up $750 million of the shares, despite ASIC’s allegations of “receding demand” on the day of the placement.
ANZ has told a court it had no obligation to disclose a $750M bailout by the underwriters of a $2.5B equity capital raising in 2015, in ASIC’s case alleging the bank breached its continuous disclosure obligations by failing to alert the market to the bailout.
A senior ANZ executive was “deeply concerned” by the size of the shortfall in its $2.5 billion 2015 equity capital raising, the court heard on the first day of trial in ASIC’s civil penalty case against the bank over alleged disclosure breaches.
Insurer Bond & Credit Company has overcome an administrator’s protests and won leave to bring cross-claims against three Greensill entities in lawsuits over the financing firm’s $1.7 billion collapse.
App developers can be added as group members in class actions against Apple and Google alleging they engaged in anti-competitive conduct in operating their app stores, despite Apple’s concerns that the law firm running the case will owe conflicting duties.
Lawyerly’s Litigation Law Firms of 2022 racked up precedent-setting victories in a year that continued to see major developments in class action law.