A shareholder class action against KPMG and the directors of defunct mining company CuDeco is seeking insurance information and a limited number of documents from the directors ahead of mediation, to avoid a “train wreck” of a case, a court has heard.
Wealth management firm Colonial First State has lost its bid to shield emails with internal counsel about investment options for its FirstChoice super fund after a judge found a class action applicant had joint legal professional privilege.
Construction firm CIMIC has won its bid to view identifying information about institutional investors in a shareholder class action, despite the applicant’s claims it could deter group members from signing on to the case.Ā
A shareholder class action against a2 Milk has won its bid to include claims under New Zealand law over the dairy company’s disclosures to the New Zealand stock exchange.
Construction firm CIMIC has foreshadowed a fight over āobscureā new pleadings in a two year-old shareholder class action alleging the company failed to keep the market informed about issues with its Middle East operations.
A consolidated class actionās bid to include claims concerning dairy company a2 Milkās disclosures to the New Zealand stock exchange is in doubt, despite broad agreement between the parties that the claims can be pursued in Victoria.
A judge has allowed two law firms to jointly run a consolidated shareholder class action against dairy company a2 Milk, saying the arrangement was in the interests of group members and was “not novel”.
Two law firms are set to work āhand in gloveā in their proposed consolidated shareholder class actions against a2 Milk, with one senior barrister to be dropped as part of the ārationalisationā of the combined team.
The Federal Court has slugged wealth management firm Colonial First State Investments with a $20 million penalty for misleading almost 13,000 superannuation members about their MySuper entitlements through a “concerted campaign” that lasted two years.
The lead applicant in a class action against CBA does not have the right to view fund management documents relevant to the case despite representing group members who share joint privilege with the bank over material, a judge has said, acknowledging the decision could create difficulties in class action proceedings.