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.
Hong Kong-based casino group Melco Resorts has lost an application for special leave to the High Court to weigh in on a ruling that a NSW public inquiry into James Packer’s Crown Resorts had the power of a royal commission and could order privileged documents to be handed over.
Logistics company GetSwift and its directors have failed in a bid for a year-long delay of a trial scheduled to start next month in ASIC’s case alleging breaches of the Corporations Act, despite arguing that the procedural unfairness of a remote hearing gave the regulator a leg-up over the US-based company.
A leading class actions lawyer from Maurice Blackburn “stumbled across” allegedly confidential information embedded in a Treasury Wine Estates’ shareholder presentation and used it in the law firm’s class action pleadings, a court has heard.
A judge has refused to delay a civil penalty hearing brought by ASIC against GetSwift, scheduled to begin in June, after the logistics company argued that the virtual hearing necessitated by the COVID-19 pandemic would be prejudicial and the proceedings should be adjourned.
Hong Kong-based casino group Melco Resorts must hand over documents claimed to be privileged to a NSW public inquiry into James Packer’s Crown Resorts, with an appeals court ruling the inquiry had the power of a royal commission.
The judge overseeing seven class actions against some of the world’s largest car makers over defective Takata airbags has ordered that class closure take place in advance of mediation, saying it was “time…for commercial reality to bite”.
The judge overseeing a group of class actions against car manufacturers over faulty Takata airbags has questioned a simplified group registration and opt out process proposed by the law firm leading the cases, saying it would “invite a moronic approach” to sign up.