Piper Alderman

Investors in an apartment development in Melbourne have brought a class action against the responsible managers for two managed investment schemes, alleging their funds were misused. 

A third law firm has filed a class action against International Capital Markets, after failing to reach an agreement on joining forces with two other firms that have agreed to consolidate their competing class actions against the Sydney broker over risky contracts for difference.

A carriage fight may be avoided in a class action against Sydney broker International Capital Markets over risky contracts for difference after two law firms agreed to consolidate their cases.

Telstra has successfully appealed a decision holding it liable for a $2.6 million telecommunications bungle at a Melbourne-based telemarketing business, with a judge finding it was entitled to rely on the expertise of business partner Kyrtec.

The proprietors of a family-owned Adelaide deli selling imported food for the past 50 years have lost a trade mark lawsuit targeting Eddie Muto’s Il Mercato Centrale — the sprawling Italian market expected to open its first Australian location in Collins St, Melbourne this year.

The applicant in a competition class action against AGL Energy has failed to find another funder to back the case after the original funder that bankrolled the case withdrew its support.

Queensland power company Stanwell has flagged a possible ‘no case to answer’ submission in an upcoming competition class action trial that would seek to shut the case down mid-trial, with a judge saying it was “highly unlikely” to succeed. 

International Capital Markets may soon face a third class action, a court has heard, as the first two class actions to be filed against the Sydney-based online broker over risky contracts for difference mull consolidation. 

Sydney financier First Class Capital has admitted it acquired three million shares in former market darling Big Un but has denied liquidators’ claims that the purchase was part of a fraudulent design to inflate the share price ahead of the video start-up’s collapse.

Online broker International Capital Markets has been hit with a second class action for selling “excessively risky” derivative products known as contracts for difference to retail investors.