Over-the-counter derivative issuers AGM Markets, OT Markets and Oxifin Tech have been ordered to pay a total of $75 million in penalties after a ruling that they engaged in unconscionable conduct causing losses of over $30 million to unsophisticated investors seeking what a judge called “financial heroin hits”.
A media report about Google’s location data privacy disclosures that set off investigations by consumer regulators in Australia and the US triggered crisis talks by senior executives of the search engine giant referred to as the ‘Oh shit meeting’, a court has been told.
Professional services firm EY UK has been added as a respondent in a shareholder class action against Pitcher Partners over advice given to law firm Slater and Gordon in its disastrous $1.3 billion acquisition of the UK-based Quindell in 2015, almost two years after the class action was filed.
Dam operator Sunwater wants evidence from Maurice Blackburn, the law firm behind the landmark Queensland flood class action, showing how the applicant will calculate aggregate damages for around 6,800 group members.
The Australian Competition and Consumer Commission has lost its appeal of a ruling that found Woolworths’ environmental claims for its ‘Select Eco’ line of compostable plates, bowls and cutlery were accurate, not false and misleading.
Google has rejected claims by the ACCC that it tricked consumers into agreeing to expanded collection of their personal data, saying that it instead sought “explicit consent” from users through an “easy-to-understand opt-in consent mechanism”.
A judge has approved a $7 million settlement in a class action against the directors of pharmaceutical company QRxPharma, only a third of which will go to group members, saying proportionality was not a basis for rejecting fees that were otherwise fair and reasonable.
The Full Federal Court will weigh in on whether common fund orders can be made at settlement in two class actions against 7-Eleven, with a hearing scheduled for the same day the NSW Court of Appeal will hear arguments on the unresolved issue.
The Australian arm of global winemaker Accolade Wines has filed Federal Court proceedings opposing three trade mark applications by the children of a South Australian wine producing couple that sold Grant Burge Wines to Accolade more than five years ago.
The funder backing a shareholder class action against the directors of pharmaceutical firm QRxPharma will not seek to profit from a $7 million settlement in order to bring about a better return for group members, a judge has been told.