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.
In a defeat to the Australian Securities and Investments Commission, a judge has found a key witness in the trial against former Quintis director Frank Wilson must give evidence in person, delaying the hearing indefinitely until coronavirus-related travel restrictions are lifted.
The Australian Securities and Investment Commission has launched proceedings against the Commonwealth Bank of Australia and its subsidiary Colonial First State Investments over the alleged payment of conflicted remuneration for a superannuation product jointly developed by the financial giants.
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.
Legislation passed by Victoria state lawmakers lifting the ban on contingency fees in class actions will not lead to US-style litigation entrepreneurialism, but it may also not have the desired effect of encouraging smaller and more risky claims, experts told Lawyerly.
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.
The funder backing a patent lawsuit by tech firm Vehicle Management Systems over an invention used by the City of Melbourne to time parked vehicles has been granted extended access to discovered documents in the proceedings.
The global pandemic has shown that the traditional law firm operating model can be transformed with speed and agility if needed. Beyond the anticipated shift to more flexible working arrangements, Lawyerly asked law firms leader to share some of the other lessons they have learned from COVID-19 and how they will incorporate these experiences into the management of their firm.
The reopening of law firm offices in Melbourne and Sydney may still be months away but firms have given Lawyerly a glimpse of what it might look like when staff do return to the office, from split workforces to strictly enforced health and safety rules. One thing is for sure, COVID-19 has changed the way lawyers will work from now on.