Melbourne-based hard assets investment manager Merricks Capital has won undertakings from its ex-managing director and two former employees who defected to an investment boutique run by financial commentator Peter Switzer and his son Marty.
Samsung Australia has been slapped with a $14 million penalty for running ads that misrepresented that its Galaxy smartphones could be used in pool and sea water.
Apple and Google have been hit with class actions alleging they violated competition laws by charging customers inflated commission on certain apps and in-app purchases.
A judge has signed off on a $56.3 million settlement in a class action against wealth manager Colonial First State that will see Maurice Blackburn earn $14.5 million in costs, saying it was a good example of the class action regime in operation.
The High Court has declined to review an appeals court decision that overturned a $106 million judgment against a unit of Indian conglomerate Adani Group over access charges for its Abbot Point coal terminal.
A judge has granted a litigation funder for two franchisee class actions against 7-Eleven an interim payment to cover its costs ahead of a ruling on how much it can pocket from a $98 million settlement.
Salter Brothers has won its lawsuit against former Hendry Group CEO Emma Hendry alleging the firm was misled into investing millions of dollars into the investment firm in 2019.
In a significant victory for litigation funders, the Full Federal Court has found that funded class actions are not managed investment schemes subject to regulatory oversight, gutting the legal basis for reforms enacted by the Morrison government in 2020.
The ACCC has raised concerns that Canada-based Dye & Durham’s proposed $2.9 billion acquisition of technology services provider Link could harm competition in the market for digital conveyancing services.
A judge has allowed two law firms to jointly run a consolidated shareholder class action against dairy company a2 Milk, saying the arrangement was in the interests of group members and was “not novel”.