The judge who dismissed the ACCC’s challenge to Pacific National’s acquisition of Aurizon’s Acacia Ridge Terminal in Queensland had no power to accept an undertaking by the rail operator as an answer to the competition regulator’s case, an appeals court has been told.
Australian agricultural fund manager Rural Funds Group has won its legal action alleging US short seller Bonitas Research engaged in misleading and deceptive conduct when it described the group’s equity as “ultimately worthless” and sent its share price plummeting.
Volkswagen has appealed a record $125 million penalty handed down over its emissions cheating scandal by a judge who criticised a $75 million settlement agreement with the Australian Competition and Consumer Commission as “manifestly inadequate”.
Two shareholder class actions against failed electronics retailer Dick Smith will head to trial in March, after a failed attempt to resolve the long-running dispute in mediation.
The Federal Court has imposed a penalty of almost $5.2 million on AMP Financial Planning after finding it was “reckless” in its ālamentable failureā to properly respond to a now banned adviser who was churning life insurance for higher commissions.
After failing to persuade the court at trial, shareholders in a class action against Myer have another chance to prove they suffered financial loss after the department store was found to have repeatedly neglected to correct an inflated profit forecast from former CEO Bernie Brookes five years ago.
A year after Commissioner Kenneth Hayne released his scathing report, companies in the financial services sector are still facing fresh class actions over conduct aired at the banking royal commission, and the pace has even picked up in recent months.
German drug company Fresenius Kadi has resolved a patent case brought by Korean drug company Samsung Bioepis over a biosimilar of top selling arthritis drug Humira.
Struggling mining firm Griffin Coal has been denied access to documents while defending a consumer law case brought by the liquidators of a collapsed mining services firm.
UK-based company Hill & Smith Holdings has won court approval to expand its patent case against Australia-based Safe Barriers Pty Ltd for allegedly infringing its patented road barrier system to include a former employee who jumped ship to the rival road safety product maker.