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A judge overseeing a class action against retirement home provider Aveo Group has appointed an amicus curiae for what is believed to be the first time to assist the court in a fight over the wording of an opt out notice describing a “novel” funding model.
A litigation funder challenging a decision underpinning recently enacted rules that require class actions to be registered as managed investment schemes told an appeals court Wednesday the decision was plainly wrong and the regime unworkable.
An Australian designer of a trendy neoprene handbag sold at high-end department stores has lost an appeal which challenged a judge’s finding that its flagship bag was not a work of artistic craftsmanship.
The trustee of Mayfair Group's collapsed IPO Wealth Fund has reached an in-principle settlement in a class action alleging it misled investors, who lost $86 million when the fund was wound up.
The maker of the popular Invisalign dental aligners may soon face a cross-claim from competitor SmileDirectClub, which it sued for allegedly misleading consumers about the cost and efficacy of its direct-to-consumer teeth alignment kits.
The Full Federal Court has appointed a contradictor to "take up the cudgels" against funder Litigation Capital Management, which has challenged a judgment refusing to find that a class action filed against Queensland electricity operators was not a managed investment scheme.
The Australian Securities and Investments Commission has lost an interim injunction bid against the director of investment firm Mayfair 101 in its case seeking a contempt finding, despite arguing there was a substantial risk of harm to consumers.
A judge has hit IOOF unit RI Advice with a $6 million penalty for failing to rein in an adviser who reaped hefty commissions for steering clients towards risky investments, despite earlier expressing concerns the penalty may not have enough sting.
Embattled investment group Mayfair 101 is challenging a judge's decision last month to slug it with a $30 million penalty for engaging in misleading and deceptive advertising.
Beleaguered investment group Mayfair 101 will have to pay a $30 million penalty after a judge found a $12 million penalty proposed by ASIC was "insufficient".