Omni Bridgeway will book a smaller-than-expected loss from its investment in failed shareholder class actions against the Commonwealth Bank of Australia that it spent close to $10 million on, having curbed its exposure by selling a stake in the group proceedings.
Network Ten has largely succeeded in its bid for indemnity costs against Bruce Lehrmann for his failed defamation case over allegations he raped former colleague Brittany Higgins in Parliament House, allegations the broadcaster proved at trial were true.
The law firm behind a class action over cancelled Qantas flights has confirmed the case continues despite a $120 million settlement with the consumer regulator, and has called on the airline to follow through on its pledge to restore customers’ confidence.
A judge has refused to allow a female pilot to bring claims that Qantas engaged in sex discrimination because it had a culture that was āhostile to womenā, saying that while the ‘vibe’ of a claim might suffice in the court of public opinion, it could not survive in a court of record.
Investment bank JP Morgan Securities has been fined $775,000 by the corporate cop after it failed to interrogate a number of unusual orders on wheat futures that should have raised red flags.
The funder of a class action by financial advisers against AMP is seeking a $28.5 million profit from a $100 million settlement, a hefty payout that has prompted the appointment of a contradictor but may survive the scrutiny in light of a recent appeals court decision.
Instagram has resolved a long-running intellectual property stoush with an Australian dating app over its use of the ‘Instagoods’ and ‘Instadate’ marks.
Qantas will pay a $100 million penalty and another $20 million in compensation in a settlement of the ACCC’s so-called ghost flights case that includes an admission by the airline that it engaged in misleading and deceptive conduct in selling tickets for cancelled flights.
A class action against failed asset finance lender Axsesstoday and auditor PricewaterhouseCoopers has reached an in-principle settlement with the lender’s insurers.
Convenience chain 7-Eleven has defeated Seven Network’s challenge to its bid to trade mark ‘7-Select’ for a new brand of products targeting younger shoppers, with an IP Australia delegate finding consumer confusion was not likely.