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An illegal online poker company, its director and a promoter of its service have been hit with a combined $24 million in penalties, with a judge doubling the penalty ACMA recommended against the promoter.
The former CEO of the company behind coconut water brand CoCo Joy has succeeded in overturning one of three criminal convictions following an ASIC investigation.
Nuix has lost its appeal of a ruling that found it must pay $20 million in legal costs before its insurers must cover its bills for defending multiple class actions and an ASIC case over its $1.8 billion float.
Hall & Wilcox has welcomed three partners from Piper Alderman to grow its corporate practice.
A judge has hit ASX Limited with a $20.5 million penalty after it admitted that a February 2022 statement to the market that its CHESS replacement project was “progressing well” was misleading.
Law firm Allen & Overy advised that there were “very serious problems” with awarding Keybridge’s former CEO Nicholas Bolton a $4.75 million bonus, a judge has heard.
ASX Limited has told a judge it did not intend to mislead shareholders when it told the market that its CHESS replacement project was “progressing well” and that a $20.5 million penalty was sufficient to achieve deterrence.
Former Keybridge CEO Nicholas Bolton has faced questions about a $4.75 million bonus he was paid on a $17.8 million deal with fund manager Magellan, on the second day of trial in proceedings by WAM over two transactions its alleges were oppressive to shareholders.
ASIC has won its case alleging Regional Express failed to correct an optimistic forecast before it entered administration last year, but failed to prove the company's optimism conveyed a "likelihood" or that three non-executive directors had actual knowledge of the collapsed budget airline's declining business.
Defence lawyers are bracing for a wave of class actions over companies’ use of generative artificial intelligence, with privacy, discrimination, consumer, product liability and shareholder claims expected.