John Karantzis, the CEO of fintech company iSignthis, has launched defamation proceedings against Fairfax, targeting an Australian Financial Review article over the 900 per cent share price jump in Etherstack, a wireless radio tech company in which Karantzis owns shares.
The Australian Securities and and Investments Commission has won a $57.5 million judgment against two units of National Australia Bank for making misleading representations to superannuation customers regarding $100 million in fees charged for services they never received, far short of the $125 million sought by the corporate regulator.
Clive Palmer has brought another lawsuit trying to stifle funding for a class action filed by villa owners at the deserted Palmer Coolum Resort on the Sunshine Coast.
A former Maple Brown Abbott analyst has been sentenced to three years after pleading guilty to insider trading and communicating inside information in relation to $1.6 million in shares of collapsed video company Big Un.
The country’s underpayments scandal has claimed two more victims — international technology company IBM and Western Australian electricity provider Western Power, with the companies agreeing to back pay employees more than $20 million combined and saying “significant” additional back payments were still to come.
The competition watchdog will not oppose Mylan NV’s proposed merger with Pfizer’s Upjohn Inc after the global pharmaceutical giants agreed to sell several off-patent brands to dispel competition concerns.
The judge overseeing a class action against GetSwift has refused to disqualify himself from the proceedings, rejecting claims that he could not be seen to approach the case with an “impartial mind” and taking a passing shot at the logistics company’s use of the Americanism “recuse” in its application.
The trial scheduled for this month in ASIC’s case against the Mayfair 101 group has been pushed off as the regulator adds claims that the troubled investment firm misled investors and director James Mawhinney briefs lawyers to represent his companies.
A recent announcement by logistics tech provider GetSwift that it will be relocating to Canada has heightened concerns by the lawyers running a shareholder class action against the company that it might not be able to meet any orders for compensation to group members.
App stores have become the latest battleground in the the Australian Competition and Consumer Commission’s investigation into digital platforms, with the regulator promising to look at data sharing practices, pricing and competition between Google and Apple, the two biggest players in the market.