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EY strikes back in Pitcher Partners class action over Slater & Gordon audit
Accounting 2021-03-01 2:04 pm By Spencer Fowler Steen Melbourne

Professionsal services giant EY has added to the many cross-claims flying in the shareholder class action against Pitcher Partners over advice to law firm Slater & Gordon, and has alleged the accounting firm engaged in misleading or deceptive conduct and negligence and that it breached its retainer.

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Freedom Foods, Deloitte hit with second class action over $590M writedown
Arnold Bloch Leibler 2021-02-23 4:45 pm By Miklos Bolza Sydney

Food and beverage manufacturer Freedom Foods and accounting giant Deloitte have been hit with a second class action by irate investors seeking compensation for “accounting errors” that led to a $590 million write-down in November last year.

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Viagogo seeks stay of $7M penalty, citing ‘catastrophic effect’ of COVID-19 pandemic
ACCC 2021-02-23 2:29 pm By Miklos Bolza Sydney

Ticket reseller Viagogo is seeking a stay of a $7 million penalty in litigation brought by the ACCC in light of the “catastrophic effect” of the COVID-19 pandemic, as the company appeals a court’s finding that it misled customers on an “industrial scale”.

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Banks will try to quash ‘incomprehensible’ indictment in ANZ cartel case
ACCC 2021-02-22 1:26 pm By Miklos Bolza Sydney

Global investment banks and executives accused of engaging in criminal cartel conduct in relation to a $2.5 billion ANZ share placement in 2015 will seek to quash the “incomprehensible” indictment filed against them, claiming it is full of “fallacies”.

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‘I’m not having vague excuses about COVID in the UK’: Judge slams ex-Linchpin director
ASIC 2021-02-18 6:54 pm By Spencer Fowler Steen Melbourne

A judge will not let proceedings brought by ASIC against four former Linchpin Capital directors drag on, slamming a “vague” excuse from one of the directors, who awaits word from his insurers on whether his defence costs will be covered, that London is still in a state of “total confusion” due to COVID-19.

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44-count indictment filed in ANZ criminal cartel case
ANZ 2021-02-18 2:57 pm By Spencer Fowler Steen Melbourne

Forty-four charges have been outlined in a long-awaited indictment in a criminal cartel case over a $2.5 billion ANZ share placement, including 29 charges against top executives from ANZ, Deutsche Bank and Citigroup.

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Class actions can’t pursue insurance brokers to boost Quintis settlement, court hears
Agriculture 2021-02-18 1:45 pm By Miklos Bolza Sydney

Two insurance brokers have dodged being dragged into class action proceedings against sandalwood producer Quintis to boost a settlement reached last year, as a fight over insurance owed to the company to cover the settlement continues.

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Full Court hears government’s $325M fight with Sanofi over ban on Plavix generic
Acting Justice Arthur Emmett 2021-02-16 4:13 pm By Miklos Bolza Sydney

Pharmaceutical companies Sanofi and Bristol-Myers Squibb are liable for losses to the federal government for excess subsidies it allegedly paid for the blood-thinner Plavix after an unjustified court injunction prevented the release of a generic version of the top-selling drug, an appeals court has heard.

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‘Blue veined or not’: Delegate says ‘Roquehort’ mark would mislead cheese buyers
Corrs Chambers Westgarth 2021-02-15 12:18 pm By Spencer Fowler Steen Melbourne

A French geographical indication body has triumphed in its opposition to a bid to trade mark the name ‘Chateau Roquehort’ for dairy products, with a delegate finding that Australians would wrongly associate the name with blue cheeses from France.

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High Court to weigh in on $26.3M Lexapro patent judgment
Angus Lang 2021-02-11 10:43 pm By Cat Fredenburgh Melbourne

The High Court will decide whether the Full Court was wrong to overturn a $26.3 million judgment for Danish drug maker H Lundbeck in its long-running patent battle with generic drug maker Sandoz over the patent for blockbuster antidepressant Lexapro.

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