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Trader Daniel Schlaepfer and his firm Select Vantage were alerted to possible market manipulation and flaws in the company's surveillance system, the court has heard mid-trial in the case alleging ASIC made defamatory remarks to the trading firm's major business partners.
Pharmaceutical giant Mylan has been ordered to hand over documents relating to its proposed launch of a generic version of its cholesterol drug Lipidil to rival Sun Pharma in advance of a hearing on Mylan's request for an order blocking Sun from launching its own generic version of the drug.
Banking giant Westpac has criticised Maurice Blackburn for rushing to file the first class action in the wake of the banking royal commission's scathing final report, saying the self-appointed leading class action firm should know how to properly commence proceedings.
Fairfax Media will seek to use documents provided by the US Department of Justice to amend its defence in a defamation case brought by wealthy Chinese-Australian businessman Chau Chak Wing over articles that appeared in the Sydney Morning Herald linking him to an international bribery scandal.
Trader Daniel Schlaepfer and his firm Select Vantage are seeking over $10 million in damages from the Australian Securities and Investments Commission in a defamation action against the corporate regulator, a court heard Thursday on the fourth day of trial in the case.
In a first for the NSW Supreme Court, Judge Peter Garling last week found that the plaintiff in a class action does not need to have a claim against all defendants, a case that could make life much easier for plaintiff lawyers, says barrister Daniel Meyerowitz-Katz of Second Floor Wentworth Chambers.clas
The Commonwealth Bank of Australia, facing cross-claims by credit ratings agency Fitch in a class action alleging it gave false or misleading double A and triple A ratings to synthetic CDOs backed by Sigma Financial, told investors Fitch's withdrawal of Sigma's credit rating prior to the collapse of the $27 billion investment fund was a "technical" issue, the bank has admitted.
Generic pharmaceutical firm Sandoz has won a temporary stay of a $26.3 million judgment in a patent case as it awaits a decision by the Commissioner of Patents regarding a licence to make a cheaper version of the bestselling antidepressant Lexapro.
The Chief Justice of the Federal Court wants four referees to weigh what's expected to be voluminous expert evidence in three class actions against the Commonwealth of Australia over exposure to allegedly toxic foam used on a government military bases, saying with 60 class actions pending in the Federal Court, devoting a single judge to the case for months on end should be a "mechanism of last resort".
The Australian Securities and Investments Commission wants to add GetSwift's former inhouse lawyer as a respondent in its enforcement action against the logistics company, as debate rages over whether a class action against the company should be postponed.