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Judge doubtful of ‘injustice’ facing Appco in class action
Employment 2018-07-27 9:24 pm By Miklos Bolza

Fundraising company Appco told a judge Friday that it faced an ‘injustice’ if a wage case were allowed to proceed as a class action on behalf of over 1,000 workers, but the judge was not impressed, saying the argument made ‘no sense’ to him.

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Ex-Kagara directors reach deal in shareholder class action
Class Actions 2018-07-27 8:45 pm By Miklos Bolza

Eight former directors of failed mining company Kagara have settled a shareholder class action alleging they misled investors and falsified the company’s accounting records, the Federal Court heard Friday.

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AMP sets aside $290M for customer compensation
Financial Services 2018-07-27 5:18 pm By Miklos Bolza

Embattled financial giant AMP has moved to regain customer trust, allocating $290 million to compensate customers going back 10 years, the company told shareholders Friday.

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Yazaki unit appeals price fixing fine to High Court
Competition & Consumer Protection 2018-07-26 11:23 pm By Cat Fredenburgh

A unit of Yazaki Corp is seeking High Court approval to file an appeal after the Full Federal Court handed down a record $46 million penalty against the car parts maker for colluding with a competitor on prices for wire harnesses supplied to Toyota.

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Appco denies army of fundraisers were employees
Employment 2018-07-26 11:06 pm By Cat Fredenburgh

Fundraising company Appco Australia challenged the similarities between group members in a class action alleging it misclassified workers as independent contractors to avoid paying minimum wage and benefits, even after a judge shot down its bid to block the case from proceeding as a class action. 

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Surfstitch shareholders get hands on ASIC transcripts
Class Actions 2018-07-26 10:23 pm By Christine Caulfield

Investors in a class action against failed online retailer Surfstitch Group won access Thursday to transcripts of interviews of former boss Justin Cameron by the corporate watchdog.

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Funders slash rates in LKM Capital, GR Finance class action settlements
Class Actions 2018-07-26 9:48 pm By Miklos Bolza

The funders of two class actions against a trustee of failed investment groups LKM Capital and GR Finance have agreed to cut their commission by 15 percentage points.

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ACCC urged to block Nine, Fairfax merger
Media 2018-07-26 8:59 pm By Miklos Bolza

Australia’s largest media union has called on the ACCC to block the proposed merger of Nine Entertainment and Fairfax Media, saying it’s a threat to media diversity in an already heavily consolidated media industry.

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Judge in S&P class actions told to start from scratch with funder’s fee
Class Actions 2018-07-26 8:08 pm By Miklos Bolza

The amicus hired to assess the funder’s cut of a potentially record settlement in several class actions against S&P Global over toxic financial products has told the judge that if he’s considering approving a funding equalisation order, he should “start with a blank piece of paper” in calculating a reasonable funder’s commission.

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Ex-Bellamy’s boss loses $1.2M share dispute
Employment 2018-07-26 7:22 pm By Miklos Bolza

The former CEO of organic baby food producer Bellamy’s Australia has lost a legal battle over $1.2 million in options she claimed she was owed as part of a long-term financial incentives scheme.

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