IOOF has admitted that some allegations in an employee complaint at the centre of a shareholder class action were “substantially true”, including claims that it overstated the performance of its ‘Buy Model’ investment portfolio and that its head of research instructed subordinates to complete his training courses for him.
Coffee capsule maker Caffitaly is challenging a ruling that revoked three patents at the centre of an intellectual property war with rival One Collective.
Brisbane clothing company Lorna Jane has been fined almost $40,000 for implying that its ‘anti-virus activewear’ prevents against infectious diseases such as COVID-19.
Australia’s corporate watchdog has lost its bid to obtain Ashurst’s advice to Australia and New Zealand Banking Group about potentially illegal bank fees “for now”, but a judge has signalled that this may not be the end of the matter.
ASIC has launched court proceedings against Melbourne-based foreign exchange and derivative trader Forex CT alleging it engaged in unconscionable sales tactics that led to hundreds of thousands of dollars in investor losses.
Queensland politician and mining magnate Clive Palmer has been hit with criminal charges for allegedly using his position as director of Minerology to allow $12 million in transfers for unauthorised purposes, including to support his party’s political ambitions.
The Australian Competition and Consumer Commission has succeeded in its case against Kogan, with a judge finding statements the online retailer made during a 2018 promotion were misleading and drew consumers into the company’s “marketing web”.
Westpac has been hit with a class action over a “shonky” car loan scheme, in what is the first class to be filed in Victoria Supreme Court following passage of a state law allowing lawyers to earn contingency fees.
A subsidiary of US mining giant Cleveland-Cliffs has fought back a second bid to quash its counterclaim for lost profits in a contractual dispute over the lucrative Koolyanobbing iron ore mine, with the Western Australia Court of Appeal saying the claim was not “clearly untenable” as argued.
Technology company Bluechiip has engaged lawyers seeking to recover around $5 million allegedly owed by California-based lab equipment manufacturer Labcon, which tore up a $15.9 million contract in the heart of the COVID-19 pandemic.