Australian Securities & Investments Commission website. (Credit: Jarretera / AdobeStock) Australia's Financial Regulator to Keep Lawyers Busy in 2024
The Australian Securities & Investments Commission has indicated it will bring more investigations and court actions this year.
January 21, 2024 at 04:01 PM
5 minute read
Regulation
Australia's financial regulator, the Australian Securities & Investments Commission (ASIC), will keep finance, regulatory and litigation partners busy this year as it turns its sights on cryptocurrencies, cybersecurity and greenwashing and plans to take more companies to court.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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