The Australian Securities & Investments Commission (ASIC) will get one more crack at cryptocurrency fintech, Block Earner, in a long-running dispute over one of its investment products after the High Court granted the regular special leave to appeal a Full Federal Court decision it lost. It will be the fourth case in a two-year legal battle… Read more »
American technology giants Apple and Google have engaged in anti-competitive conduct through their respective app stores in Australia, a Federal Court judge said, following a lengthy legal battle brought by entertainment company Epic Games. Justice Jonathan Beach’s findings, outlined in a 90-minute hearing in Melbourne, saw Epic Games granted a partial victory which cleared the… Read more »
Elon Musk’s Twitter, now rebranded as X, has gone down for a second time in court trying to avoid a $610,500 penalty imposed by Australia’s eSafety Commission for failing to properly respond to requests for information on how it tackles child sexual abuse material on the social media site X Corp initially failed to report on how… Read more »
EVP has added 20 more defendants, including earlier VC investors – taking the total to 32 – in its legal action to recover $10.4 million invested in StrongRoom AI. EVP has a freezing order over the company’s assets and during a case management hearing on Wednesday added the company’s other early investors, including Artesian Ventures,… Read more »
Ongoing legal action over the assets of failed medications management startup StrongRoom AI have led the company’s voluntary administrators to extend their control to the absolute limit. A case management hearing due today has been moved to June 4, extending Federal Court-imposed asset freeze on four StrongRoom directors and the administrator, initiated by VC investor… Read more »
Corporate regulator the Australian Securities and Investment Commission (ASIC) is hoping it’s a case of third time lucky is its legal battle with cryptocurrency platform Block Earner, and will seek special leave from the High Court to appeal last month’s Full Federal Court decision to dismiss their case. ASIC is seeking a High Court’s ruling… Read more »
In its most recent battle with authorities in Australia, X (formerly Twitter) has launched legal action in the Federal Court, seeking an exemption from a new safety standard aimed at preventing the spread of harmful material online. The standard in question is known as the Relevant Electronic Services Standard. It came into effect in December… Read more »
Max Mito, the cofounder and CEO of StrongRoomAI, has denied he admitted to fraud in a meeting with investors last month that led VC EVP to call in police and launch legal action to freeze the assets of Mito and several others. Mito’s counsel, Alexander Langshaw, told a Federal Court hearing in Sydney last Thursday… Read more »
In the high-stakes world of startup funding, where millions can be raised in a matter of weeks and valuations shift with a pitch deck, due diligence (DD) has long been the safety net that prevents bad bets. It’s a well-worn and trusted process, particularly in venture capital. So when an investor alleges fraud after a… Read more »
More than 10 bids were submitted to the voluntary administrators of failed startup StrongRoom AI, hoping to snap up the value left in the business, despite it being mired in legal action over allegedly faked revenue figures and a VC investor wanting its $10 million back. Final offers for what remains of StrongRoom are due… Read more »
EVP has lodged legal action in the Federal Court of Australia in a bid to recoup the $10.44 million it invested in Melbourne startup StrongRoom AI. The Sydney venture capital firm headed to court in Brisbane on Monday afternoon to seek an urgent order freezing assets worth up to $10,440,969 million against 13 defendants, including… Read more »
Facebook’s parent company, Meta, has been ordered by a US court to provide details on how scammers use the social media platform to create scams ads as part of legal action by Dr Andrew Forrest. The WA mining billionaire has been doing battle with Facebook both here and in California for the last three years… Read more »
Elon Musk as a long history of big promises and delivery that’s slightly more modest. Even scrutiny of his role in the Trump administration, at a time when Tesla’s share price and sales are plummeting, has revealed that supposed savings in the cuts made by the so-called Department of Government Efficiency are far smaller that… Read more »
Brag Media cofounder and former CEO Luke Girgis has launched legal action in the NSW Supreme Court against the company that bought his business, ASX-listed Vinyl Group. The acquisition deal dates back to December 2023, when Vinyl (ASX: VNL) announced it would pay $8 million in cash to acquire 100% of The Brag Media and… Read more »
The Victorian government’s controversial $2 billion venture fund has been embroiled in an unfair dismissal case launched by the cofounder of one of its portfolio companies. Seer Medical founder Dr Dean Freestone launched Federal Court action against the company he helped launch and Breakthrough Victoria earlier this year, alleging he was forced out of the… Read more »
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