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ANZ breached continuous disclosure rules during $2.5B share placement, court finds
Securities 2023-10-13 5:08 pm By Cindy Cameronne

A judge has found that ANZ breached continuous disclosure rules by failing to disclose a $750 million bailout by underwriters Deutsche Bank, Citigroup and JP Morgan during its $2.5 billion equity capital raising in August 2015.

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High Court to weigh in on disclaimer in Advanta Seeds class action
High Court 2023-10-13 4:42 pm By Cat Fredenburgh

The High Court has granted special leave to farmers in a class action against Advanta Seeds over allegedly contaminated product to challenge a court’s finding that a disclaimer nullified the company’s duty to protect growers against economic loss.

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Nine faces contempt claim over stories on surgeon’s defamation trial
Defamation 2023-10-13 12:08 pm By Cindy Cameronne

A top orthopaedic surgeon who is suing Nine for defamation has accused the outlet of contempt of court by publishing unadmitted evidence about his reputation, claiming the stories were “improper, unjust and lacking in bona fides”. 

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Court can order solicitor to return fees for ‘exorbitant overcharging’
Legal Ethics 2023-10-13 4:18 pm By Cindy Cameronne

A court made valid orders for a Queensland solicitor to pay back $251,255 to the relative of a former client, an appeals court has found, saying that “exorbitant charging debases the reputation of the legal profession”.

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Bondholders class action faced obstacles, but proving climate risk not one of them: judge
Class Actions 2023-10-13 11:53 pm By Cat Fredenburgh

A judge who signed off on a settlement in a class action against the  government by sovereign bondholders over the disclosure of climate risks said proving climate change posed a risk to government coffers may not be as difficult as the government has claimed.

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Car park patent holder tries again to prove infringement
Appeals 2023-10-13 12:49 pm By Cat Fredenburgh

The owner of a car parking patent has appealed a judgment that tossed its patent infringement claims and found it made unjustified litigation threats against car parking technology company Ubipark.

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Judges have power to make settlement CFOs, says Full Court
Class Actions 2023-10-12 11:36 am By Cindy Cameronne

The Full Federal Court has answered a question vexing the court for the past four years, ruling that class action judges have the power to make common fund orders at settlement that allow litigation funders to reap a percentage commission beyond their contractual entitlement. 

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Full Court shoots down ‘misconceived’ bid to undermine Fair Work class actions
Employment 2023-10-12 4:51 pm By Cindy Cameronne

A judge has declined a union’s bid to throw out an employee class action against McDonald’s after the Full Federal Court confirmed that employee class actions are not precluded by the Fair Work Act. 

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Judge’s blessing of ‘solicitors’ CFO’ may bring class actions back to Federal Court
Class Actions 2023-10-12 11:40 pm By Cat Fredenburgh

A Federal Court judge’s endorsement of the novel idea of a ‘solicitors’ common fund order’ may reverse the trend of class action lawyers running to the Supreme Court of Victoria, where they can earn a contingency fee, to file their cases.

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Experience trumps funding model in Jaguar Land Rover beauty parade
Class Actions 2023-10-12 12:29 pm By Cindy Cameronne

A judge has awarded carriage of a class action against Jaguar Land Rover over allegedly defective diesel filters to a law firm that won a similar case against another car maker, saying the firm’s experience was not a “neutral factor”.

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