Activist US short seller Bonitas Research has welcomed legal action filed against it by agricultural fund manager Rural Funds Group as a chance for “investors to know the truth”, while also doubling down on the accusations of fraud at the centre of the case that sent the group’s share price plummeting.
A judge has thrown out the NRMA’s consumer case against the maritime union over its Sydney fast ferry campaign, ruling that a verdict in favour of the motoring body would have brought the “the entire field of industrial relations within the operation of consumer legislation”.
The competition regulator has given rural retailer company Elders the greenlight to proceed with its proposed $187 million acquisition of wholesale group Australian Independent Rural Retailers, but has warned it will be paying close attention to any future consolidation in the rural sector.
The plaintiffs in one of two shareholder class actions brought against troubled sandalwood producer Quintis have complained about potential delays that could result from the “overly complicated loss theory” being advanced in a parallel class action.
Live cattle exporter Wellard Ltd has been hit with an unlawful dismissal claim for more than $400,000 by its ex-CEO, who claims he was sacked for asking about the company’s troubling financial position and complaining about the chairman’s “hostile”, “demeaning” and “threatening” behaviour towards him.
BVivid has become the latest telco to cop penalties from the consumer watchdog over National Broadband Network marketing, after it admitted to cold-calling consumers and telling them they would be disconnected if they did not immediately switch over.
The Australian Securities and Investments Commission has filed an appeal against the Federal Court’s responsible lending ruling in favour of Westpac, arguing the decision had created uncertainty around the obligations of credit providers.
Holding Redlich national managing partner Ian Robertson has “categorically denied” that he advised the NSW Labor general secretary to cover up a $100,000 illegal political donation, telling ICAC that he “would never advise a client to behave in that manner”.
Recent high-profile court losses will do nothing to deter the competition and consumer watchdog according to ACCC boss Rod Sims, who says he “does not want a 100 per cent success rate” because it would mean the regulator was not being sufficiently aggressive.
The Full Federal Court has dismissed Linfox’s $45 million fuel tax credit appeal, finding the Australian logistics company’s argument was ‘too weak or uncertain’ to conclude that it was being over-taxed on major toll roads across the country.