Rio Tinto will face a penalty in proceedings brought by the Australian Securities and Investments Commission alleging the mining giant misled shareholders about the resources of a Mozambique mining company it acquired for $5.8 billion in 2011 and later offloaded for $70 million.
The Full Federal Court has held Facebook can be sued in Australia for allegedly disclosing the personal data of over 300,000 users to political research firm Cambridge Analytica.
US pop star Katy Perry has been accused of using her “financial might” to “snuff out” the small business of an Australian fashion designer, as trial kicked off in a long-running intellectual property dispute over the rights to use the Katy Perry trade mark in Australia.
Financial services company AMP has lost its bid to de-class representative proceedings brought on behalf of 1.5 million insurance customers.
AMP and a number of its financial planning subsidiaries could face 1.2 million individual claims if they win a bid to declass a group proceeding over allegedly excessive insurance premiums, a judge has said.
US singer Katy Perry can withdraw an admission in a trade mark infringement case that licensing her brand to Target and Myer constituted use, with a judge finding the admission was “not consistent with current law”.
US singer Katy Perry is seeking to withdraw an admission that licensing her trade mark to Target and Myer constituted use, saying it was plainly “wrong” after the Full Federal Court held an owner who authorised use of a mark was not liable for direct infringement.
Chinese lender Aoyin must pay PricewaterhouseCoopers’ legal costs for a vacated trial after Aoyin’s eleventh hour decision to join Baker McKenzie to a $10 million cross-claim in a dispute concerning the accounting firm’s advice on its failed bid to launch the first Chinese incorporated bank in Australia.
A judge has found PwC should face a claim that it engaged in misleading and deceptive conduct while assisting Chinese lender Aoyin with its planned launch in Australia by failing to properly advise the company there was a risk its shareholders did not comply with APRA’s ‘fit and proper’ requirement.
Baker McKenzie has been accused of negligence in a cross claim by Chinese lender Aoyin, which faces a lawsuit by accounting giant PricewaterhouseCoopers for unpaid fees over advice related to a failed bid to launch a bank in Australia.