AMP and a number of its financial planning subsidiaries could face 1.2 million individual claims if they win a bid to declass a group proceeding over allegedly excessive insurance premiums, a judge has said.
A judge has told a Colonial First State Investments unit to provide information about its financial position to the lead applicant in a class action and criticised the company for failing to disclose that it had transferred its liabilities after the class action was launched.
The Federal Court’s decision that artificial intelligence can be listed on a patent application as the inventor has become an outlier, as the UK joins the US in rejecting what has become an international battle to claim AI inventorship.
New requirements that funded class actions be run as managed investment schemes will throw up myriad new questions for the courts, with lawyers predicting novel challenges by defendants and group members and an altered landscape for competing class actions.
Truck company Isuzu has asked a court to shut down an $18 million lawsuit by Directed Electronics alleging copyright infringement, arguing that its own cross-claims –which substantially overlap with allegations in a 2017 case that went to trial — made it an abuse of process.
A Federal Court judge has taken a swipe at new regulations that require class action funding arrangements to be registered as managed investment schemes, saying it was difficult to reconcile the new rules with the class action regime.
Approximately 1,000 investors of collapsed stockbroker Halifax Investment Services have challenged a court decision concerning the date of the realisation of their investments which decreased the amounts they could recoup from the company’s liquidation.
Shareholders of the collapsed Babcock & Brown have failed in their challenge to a ruling tossing their cases for damages for disclosure breaches during the global financial crisis, with an appeals court finding the investors had not shown the breaches caused any loss.
The Commissioner of Patents has appealed a landmark judgment that found artificial intelligence can be named an inventor on a patent application.
The Federal Court has dealt US drug giant Merck Sharp & Dohme a devastating blow, overturning an “untenable” patent term extension which would have protected the monopoly of its multibillion-dollar Januvia and Janumet diabetes drugs beyond July 2o22.