Grain producer Viterra will be ordered to pay Cargill Australia $168.9 million after a judge found the Glencore-owned companyĀ misrepresented the performance capabilities of malt producer Joe White when it sold the company for $420 million in 2013.
Aware Finance, formerly StatePlus, has been fined $20 million for charging over 25,000 customers approximately $50 million for services they did not receive.Ā
Food giant Cargill Australia has won its lawsuit against Glencore-owned Viterra alleging it misrepresented the performance capabilities of malt producer Joe White when it sold the company for $420 million in 2013.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion’s share, with $672 million in settlements under its belt.
La Trobe Financial Asset Management will pay just $750,000 for misleading investors in its 48 hour and 90 day notice accounts over a period of more than three years, with a judge saying the company would have faced a penalty “well in excess” of this amount if not for reassuring correspondence from ASIC during its investigation.
A judge has expressed hesitation about a $750,000 penalty proposed by the Australian Securities and Investments Commission in its misleading advertisement case against $5.15 billion credit fund La Trobe Financial Asset Management, calling the amount āvery, very modestā.
A $19.6 million legal bill racked up by the law firm behind two 7-Eleven class actions accusing the convenience store chain of misleading franchisees did not warrant the appointment of a contradictor to a hearing seeking approval of a $98 million settlement, a court has heard.
Convenience store giant 7-Eleven has agreed to pay $98 million to settle two class actions accusing it of misleading franchisees, the largest class action settlement reached so far this year.
7-Eleven has reached an in-principle agreement to settle two class actions which accused the convenience store giant of misleading franchisees and underpaying employees at its stores.
A Victoria Supreme Court judge has rejected a post-trial bid to keep details of the 2019 sale of Cargill’s malt business under wraps in a long-running case over Viterra’s $420 million sale of its Joe White business, finding the move would be contrary to the principles of open justice where no harm from disclosure had been demonstrated.