A bidding war erupted Tuesday among law firms angling to lead a $2 billion shareholder class action against AMP, with Maurice Blackburn announcing a “super deal” and Quinn Emanuel besting that with a funding arrangement to “shake up” the market.
The fraud case against Australian basketball great Shane Heal has been withdrawn after prosecutors’ could not get their US-based star witness to testify in time.
A Sydney-based IT consultant faces multiple charges of insider trading after illegally accessing stock information from a financial publisher, the Australian Securities and Investments Commission said Monday.
The ACCC is considering a report by US-based Oracle into Google’s tracking of Australian Android phone users as part of the regulator’s broader inquiry into digital media.
A Victorian Supreme Court judge has recused himself from proceedings over costs in a construction dispute, after vowing to send transcripts of the case to the state’s legal watchdog.
Telecom giant Optus has come up short in a Federal Court challenge to trademark registration for health services company Optum, with a judge saying the two company’s marks — despite the difference of just one letter — were distinct enough.
A full bench of the Federal Court has dismissed an appeal by drug giant GlaxoSmithKline in a patent infringement case it brought over planned generic versions of its sustained-release Panadol.
A two-day hearing has been scheduled in the Westpac life insurance class action over a proposed funding arrangement that would give litigation backer JustKapital 30 per cent of any recovery, in addition to costs outlaid by lawyers for the class.
AMP says it will “vigorously defend” two class actions by shareholders in the wake of scandalous revelations at the Royal Commission that led to a $2 billion market cap drop.
The Federal Government’s $26 million cut to ASIC’s budget has been blasted by experts and the opposition for undermining the corporate regulator, already facing the heat of the Banking Royal Commission.