An appeals court has vacated orders sending opt out and registration notices to shareholders in a class action against AMP after a successful challenge by the lead plaintiff in a competing class action that was stayed after a high-profile litigation beauty parade last year.
Commonwealth Bank of Australia and Beem It are facing an employment lawsuit by the former CEO of the payments fintech, but details of the case have not been released pending a bid to keep the claims confidential.
A judge has questioned ASIC’s proposed $5 million penalty against the Commonwealth Bank of Australia, saying it was “on the light side” for the bank’s conduct in overcharging $8 million in fees on its agricultural products.
AFT Pharmaceuticals is seeking to reopen a lawsuit against Reckitt Benckiser over ads for its painkiller Maxigesic after judgment was delivered in the matter, claiming the judge’s declarations contained an error, an argument slammed by Reckitt as “extraordinary”.
Virgin Australia’s administrators have whittled down the list of eligible bidders for the struggling airline to two, with investment firm Bain Capital and private equity investor Cyrus Capital Partners the only potential purchasers allowed to make final offers.
The Australian Competition and Consumer Commission said competition by smaller airlines was essential ‘now, more than ever’ as the airline industry undergoes a major upheaval due to the coronavirus and the administration of Virgin Airlines, and vowed to continue its probe of Qantas’ 19.9 per cent stake in Alliance Airlines.
A criminal defence lawyer who represented convicted criminal Salim Mehajer has sued Fairfax Media over an article by a Sydney Morning Herald gossip columnist that allegedly implies she breached her oath as a solicitor for being romantically involved with clients.
A court has dismissed a Telstra worker’s appeal seeking compensation for an injury sustained after a long night out during a work trip, finding that because the injury occurred at 2.30am it “lacked a connection” with her employment with the telecommunications company.
Construction giant Boral faces another shareholder class action accused of failing to disclose the financial irregularities of its US windows business.
The Australian Federal Police has dropped its investigation of journalist Annika Smethurst over a series of News Corp articles that allegedly disclosed national security information, a decision applauded by the Law Council of Australia.