ASIC has filed Federal Court proceedings against former directors and compliance committee members of Keystone Asset Management Ltd (Receivers & Managers Appointed) (In Liquidation) over alleged failures in the management of the Shield Master Fund, which held more than A$530 million from around 5,800 superannuation investors.
A jury rejected Elon Musk's claims that OpenAI under Sam Altman's leadership betrayed its mission to benefit the public by morphing into a for-profit business, finding that he waited too long to sue the company. In a post on X this week, Musk said that he will be filing an appeal with the Ninth Circuit court, noting "the judge and jury never actually ruled on the merits" of the case. For a closer look, we speak with Matthew Schettenhelm, media litigation analyst for Bloomberg Intelligence.
President Donald Trump criticizes Federal Reserve Chair Jerome Powell over the Fed building renovation costs during a Cabinet meeting at the White House.
Qantas has reached an agreement to pay $105 million to settle a class action regarding flight credits issued during the Covid pandemic.
The settlement resolves a legal challenge commenced in August 2023 involving flights scheduled to depart between January 2020 and November 2022 that were cancelled by the carrier.
Collins Foods has entered a binding Heads of Agreement to settle a class action regarding 10-minute rest breaks for up to $9 million.
The legal proceedings, which commenced in December 2023, involved claims from employees against the company and several other respondents regarding workplace entitlements.
West Virginia Attorney General John McCuskey discusses why he brought a suit against Apple, alleging the company has knowingly allowed users to store and distribute child sexual abuse material on its iCloud platform. McCuskey joins Ed Ludlow on "Bloomberg Tech."
