Treasurer Josh Frydenberg has indicated the government may oppose GetSwift’s bid to relocate to Canada while it’s facing a $50 million shareholder class action and ASIC enforcement proceedings, a move which a judge recently described as “not a good look”.
The state of South Australia is facing a possible class action over a restrictive six-day lockdown that was lifted after two days when it was discovered that a worker connected to a coronavirus outbreak in Adelaide had lied to contact tracers about the time he spent at a pizza shop.
A judge has signed off on nearly $3.4 million in costs in a $5.7 million settlement reached in a class action over a 2016 stampede at the Falls Music and Arts Festival in Victoria.
Insurers may face a class action by holders of business interruption insurance that have had their COVID-19-related claims rejected, following their loss in a test case over whether an infectious disease exclusion in business interruption cover applies to coronavirus-related claims.
A court has ordered Theta Asset Management, a collapsed financial services provider that ran a property investment scheme targeting retirees, to pay a $2 million penalty for issuing defective product disclosure statements.
A settlement has been reached in a class action against a Sydney-based financial advisory firm by a group of Chinese investors over a property investment and visa scheme that allegedly saw group members lose $14.5 million in funds.
Insurers will face a flood of pandemic-related claims after an appeals court ruled in a test case brought by the Insurance Council that certain infectious disease exclusions in business interruption cover do not apply to coronavirus-related claims.
A former executive of a unit of Leighton Holdings has been arrested and charged with foreign bribery offences following a 9 year-investigation by the AFP into $106 million in bribes allegedly steered to Iraqi officials to win lucrative oil projects.
Two more law firms have been joined to a lawsuit by defunct financial advisor Dover Financial accusing three law firms of providing negligent advice regarding an inaptly titled client protection policy which a judge found was “highly misleading” and “an exercise in Orwellian doublespeak”.
Epic Games, maker of the popular Fortnite game, has taken its courtroom battle with Apple to Australia, hitting the tech giant with a lawsuit for allegedly abusing its market power.