The judge overseeing ASIC’s case against logistics provider GetSwift cannot draw any inferences against the company because directors Bane Hunter and Joel Macdonald did not give evidence at trial, GetSwift’s barrister has said during closing submissions in the case.
The majority shareholder in insurance broker Coverforce has won its bid to use documents from an existing lawsuit over the company’s $25 million acquisition of Suncorp unit Resilium in new proceedings it intends to bring.
A judge has handed ASIC a “narrow” win in its action against former Tennis Australia director Harold Mitchell, tossing most of the regulator’s case and accusing it of “confirmatory bias”.
The judge overseeing a copyright infringement lawsuit against an electronic music duo and Air France over the 1977 disco hit ‘Love Is In The Air’ has denied a request to re-open the case or tweak his reasons for rejecting most claims for damages, saying the plaintiffs’ opportunity to raise an argument they had likely “overlooked” had passed.
A former director of GetSwift has given evidence at trial in ASIC’s case against the logistics provider that the company drafted a correction to a misleading ASX announcement about a deal with fruit and milk delivery provider Fruit Box but never released it.
A judge has dismissed a defensive bid by ASIC to amend its case against GetSwift mid-trial, instead calling on “common sense” to be injected into the proceeding as the hearing enters its second week.
GetSwift “sat on” an announcement about a lucrative deal with US-based automotive sales and marketing firm N.A. Williams for more than three weeks, then leaked the news to the media before announcing it on the Australian Stock Exchange, ASIC has told the Federal Court on day two of a trial in the corporate regulator’s case against the logistics tech company.
Émails show the directors of logistics company GetSwift took a “deliberate approach” to inflating the company’s share price through a constant supply of positive ASX announcements about new multimillion-dollar contracts, ASIC said on the first day of a highly anticipated five-week trial.
Seven car makers defending class actions over defective Takata airbags have confirmed they will not be challenging a landmark decision that set aside a pre-settlement class closure order in the cases.
A court has substantially dismissed an application for further discovery by three companies facing a lawsuit by chemical and energy giant Hanwha Solutions for patent infringement of its solar cell technology.