Direct bank Members Equity has pleaded guilty to criminal charges over misleading representations to customers, but a judge has questioned the bank’s submissions in favour of a low penalty, noting it was only “happenstance” that a systems glitch didn’t lead to worse outcomes for customers.
As it readies its civil penalty suit against tech company Nuix for trial, ASIC has flagged a possible dispute about the extent of penalty privilege pleaded by a handful of former and current directors named in the case.
A 16-year battle between the federal government and drug maker Sanofi-Aventis over an allegedly unjustified court order that prevented the release of a generic version of blockbuster blood-thinner Plavix has gone to the High Court.
A class action against Virgin Australia has become a lawyers’ feast, with seven new firms entering the ring after a dozen insurers were joined to the action alleging the airline failed to disclose its true financial position in a $324 million capital raising prospectus.
A judge has approved a $5 million settlement in a false imprisonment class action against the state of Victoria on behalf of residents of nine public housing towers over COVID-19 lockdowns, despite noting it “falls towards the lower end of the spectrum”.
A Blue Sky director has pointed the finger at auditor Ernst & Young in a class action alleging the collapsed investment firm misled shareholders by misstating its assets under management.
Telstra and TPG will not challenge a decision by the Australian Competition Tribunal to uphold the ACCC’s rejection of their proposed regional network sharing agreement.
Dell Australia has been ordered to pay a $10 million penalty for making false and misleading representations about the discount prices of add-on computer monitors.
A PricewaterhouseCoopers partner may launch defamation proceedings against the professional services firm over two press releases which he says falsely linked him to a tax leaks scandal in an attempt to “offer scapegoats” to the public.
A PricewaterhouseCoopers partner has won his lawsuit against the professional services firm over his forced dismissal, with a judge finding the decision breached a partnership agreement and that the firm had acknowledged the partner did not misuse confidential ATO information.