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Vocation class action lumbers on with pared claims
Class Actions 2019-11-11 4:02 pm By Cat Fredenburgh

Certain claims in a shareholder class action against insolvent training company Vocation and auditor PricewaterhouseCoopers have been dropped, as the long-running case awaits a new trial date pending the outcome of a separate Full Court appeal.

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‘Mother’ consumers know best: IP Australia shuts down Monster Energy’s trade mark opposition
Intellectual Property 2019-11-08 11:32 pm By Cat Fredenburgh

Monster Energy has lost its opposition to coffee company Vittoria Food & Beverage’s proposed ‘Mothersky’ trade mark, with a delegate of the Trade Marks Office saying the energy drink company’s ‘Mother’ energy drink brand was so strong in the minds of consumers that there was no likelihood of confusion.

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Banks can grill ACCC investigators, JPMorgan in ANZ criminal cartel case
Competition & Consumer Protection 2019-11-08 3:35 pm By Miklos Bolza

The banks and executives at the centre of a landmark criminal cartel case can question four ACCC investigators and witnesses from JP Morgan at an upcoming committal hearing, with a magistrate saying Friday there were “substantial reasons in the interests of justice” to allow the cross-examination.

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Ex-Tennis Australia director Harold Mitchell was ‘determined’ to award Open rights to Seven, court hears
ASIC 2019-11-04 11:21 pm By Christine Caulfield

Former Tennis Australia director Harold Mitchell was “pushing very hard” for the Seven Network to score the domestic broadcast rights to the Australian Open in 2013 over better offers from rival broadcasters, the Federal Court heard Monday.

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ASIC wins admissions from NAB in $100M fees for no service case
ASIC 2019-11-04 1:30 pm By Cat Fredenburgh

A hearing scheduled for next year in the Australian Securities and Investments Commission’s case against two NAB wealth management units will focus solely on how steep a penalty the bank should face after it made admissions about its fees for no service conduct.

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Funder to fight for Murray Goulburn class action commission, as milk supplier settles second case
Class Actions 2019-11-01 9:48 pm By Christine Caulfield

Murray Goulburn has agreed to pay $37.5 million to resolve the second of two shareholder class actions over its 2016 profit forecasts, as the $42 million settlement of the first class action is held up over questions about the litigation funder’s commission. 

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‘Time for commercial reality to bite’: Judge orders class closure in Takata air bags class actions
Class Actions 2019-11-01 3:30 pm By Cat Fredenburgh

The judge overseeing seven class actions against some of the world’s largest car makers over defective Takata airbags has ordered that class closure take place in advance of mediation, saying it was “time…for commercial reality to bite”.

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Group members left with less than half of $18M UGL class action settlement
Class Actions 2019-10-29 1:50 pm By Christine Caulfield

UGL shareholders that signed up to a class action against the engineering company over disclosures related to its Ichthys power plant contract will get less than half of an $18 million settlement, even after the litigation funder takes a steep cut to its 30 per cent commission and the plaintiff’s firm caps its fees.

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Funder to appeal landmark ruling on security in Fair Work class actions
Employment 2019-10-28 4:51 pm By Miklos Bolza

A litigation funder is planning to challenge a landmark Federal Court ruling that found for the first time that funders can be ordered to pay security for costs in Fair Work class actions.

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After landmark Myer ruling, settlements in shareholder class actions to stay the norm
Analysis 2019-10-25 8:39 pm By Christine Caulfield

A groundbreaking class action ruling by the Federal Court on Thursday that found Myer misled shareholders and accepted the applicant’s market-based causation theory is the only judgment in an Australian securities class action since the first shareholder case was brought 20 years ago, and it might be the only one for years to come.

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