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Connective directors hit with indemnity costs for ‘outrageous’ conduct in shareholder stoush
Securities 2022-04-06 4:55 pm By Miklos Bolza

The directors of mortgage aggregator Connective Services have been hit with indemnity costs for their “outrageous conduct” in pursuing litigation against a company shareholder, including giving false statements and destroying evidence.

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Court to probe if 7-Eleven class action funder, law firm had deferred fee arrangement
Class Actions 2022-04-06 11:50 pm By Christine Caulfield

A marathon hearing of an application for court approval of a $98 million settlement in two 7-Eleven class actions has ended with a judge taking the rare step of signing off on the settlement amount while withholding approval of the legal costs and funding commission.

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Judge to appoint costs referee in $56.3M Colonial First class action settlement
Class Actions 2022-04-06 3:33 pm By Sam Matthews

Continuing a recent trend in class actions, a judge will appoint a referee to weigh in on Maurice Blackburn’s costs in a $56.3 million settlement in a class action against Colonial First State, but has so far declined to appoint a contradictor.

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High Court deals blow to trust beneficiaries in victory for ATO
Tax 2022-04-06 5:43 pm By Cindy Cameronne

The ATO has won a legal challenge over when it can claim tax from trust income, with the High Court finding beneficiaries cannot “retrospectively expunge” their entitlements to the proceeds of a trust despite the potential “unfairness” this creates.

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Citigroup facing $300,000 lawsuit over alleged conflicted financial advice
Financial Services 2022-04-06 5:09 pm By Cindy Cameronne

A Citigroup customer has hit the bank with a lawsuit alleging it gave her conflicted financial advice to invest most of her savings in “risky” products, despite being an inexperienced investor with limited funds.

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Morrison cleared to call election after failure of challenge to Liberal pre-selections
Politics 2022-04-05 10:44 pm By Christine Caulfield

A court has dismissed a challenge by a Liberal Party member to a decision by prime minister Scott Morrison and two other members of the federal executive to endorse incumbents to contest seats in NSW at the upcoming election, a ruling that paves the way for the PM to name the date.

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Treasury Wine Estates’ ‘fishing’ claim against class action firms falls flat
Class Actions 2022-04-05 4:45 pm By Cindy Cameronne

Law firms accused of “fishing for a case” in a consolidated shareholder class action against Treasury Wine Estates have won access to key financial information in reports to the company’s board, with a registrar finding the material was relevant to the case.

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Judge takes ‘wait and see’ approach to trial in Epic cases against Apple, Google
Competition & Consumer Protection 2022-04-05 2:49 pm By Miklos Bolza

A judge has held off selecting from a “basket of imponderables” in determining how he will hear two competition lawsuits by Epic Games against Apple and Google over the removal of the popular multiplayer game Fortnite from the tech giants’ online stores.

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‘Bad luck’: Judge denies penniless Captain Cook College’s appeal delay bid
Competition & Consumer Protection 2022-04-05 8:59 pm By Sam Matthews

A judge has rejected an application by training provider Captain Cook College to postpone the hearing of its appeal in a case won by the ACCC, saying the company’s inability to fund the appeal was “largely a problem of [its] own making.”

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Ex-GC can’t access fintech’s financials ahead of mediation in discrimination case
Employment 2022-04-05 3:59 pm By Miklos Bolza

The former general counsel of UK-based transit payment service provider Littlepay has lost her bid to access the firm’s financial statements ahead of mediation in a lawsuit alleging she faced discrimination and bullying when she returned to work after the birth of twins.

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