The applicants in the Iluka Resources investor class action have just 14 days to sort out their funding troubles and provide a $1.25 million security, as a judge warns he will not be able to hold their trial date any longer.
The Quintis shareholder class action trial could be delayed for almost two years, while ASIC runs its civil proceedings case against the founder of the sandalwood oil production company.
The Commonwealth Bank of Australia, facing cross-claims by credit ratings agency Fitch in a class action alleging it gaveĀ false or misleading double A and triple A ratings to synthetic CDOs backed by Sigma Financial, told investors Fitch’s withdrawal of Sigma’s credit rating prior to the collapse of theĀ $27 billion investment fundĀ was a “technical” issue, the bank has admitted.
Deloitte Touche Tohmatsu is facing claims by the lead applicants in two class actions against failed retail giant Dick Smith alleging its poor accounting practices contributed to the retailer’s collapse.
The investor behind a failed class action against the Public Trustee of Queensland over the collapse of Octaviar Group has escaped a bid by the Trustee for maximum costs, with a judge ruling the case was not a “nakedly speculative venture” by the funder.
An expert witness in an investor class action against Fitch Ratings over toxic financial products is no expert at all, the lead applicant told the court in contesting the admissibility of the expert’s evidence.
The judge overseeing a class action filed on behalf of business owners over the Sydney light rail construction has cautioned the NSW government against filing a de-class motion, saying a class action may be the “very best thing” for the government.
Liquidators for Dick Smith don’t want potential group members in two class actions against the failed retailer to learn about a new registration deadline by email, saying it would amount to spam and harassment.
The Public Trustee of Queensland asked a court Wednesday for indemnity costs from a global litigation funder its says was the “real moving force” behind a dismissed investor class action it called a “nakedly speculative venture”.
A judge has given the green light to a settlement of seven class actions against ratings agency S&P Global over toxic financial products, saying despite an “extraordinarily large” litigation funding fee the deal was a “significant vindication” of group member claims.