Two law firms are set to work âhand in gloveâ in their proposed consolidated shareholder class actions against a2 Milk, with one senior barrister to be dropped as part of the ârationalisationâ of the combined team.
An appeals court has set aside a notice issued to the tax office to produce documents to Kupang Resources as the mining company seeks to claw back millions of dollars allegedly siphoned off by former shadow director Phillip Grimaldi.
a2 Milk is facing a shareholder class action in New Zealand on behalf of investors who allegedly suffered loss when the company’s share price plummeted on the heels of a revised outlook for the 2021 financial year amid challenges in the Chinese market.
Shareholders bringing a class action against Quintis have lost their bid for Ernst & Young to hand over documents from two meetings with a director of the sandalwood supplier, after a judge found they did not get âwithin a bullâs roarâ of showing the accounting firm’s discovery was inadequate.
Law firms running competing shareholder class actions against a2 Milk appear to have reached agreement to join forces, with a court order Thursday scrapping a contest to determine which case would proceed alone.
Calling it the âelephant in the roomâ, a judge overseeing a class action against Tyro over a major EFTPOS outage last year has said a dispute over who is eligible to join the case needs to be hashed out before retailers are notified of the proceedings.
Investors have lost their class action against Perth-based Iluka Resources, the latest shareholder class action to fail after pushing through to trial.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion’s share, with $672 million in settlements under its belt.
A âfull-blooded carriage fightâ is set down for next year between two competing class actions alleging dairy giant a2 Milk misled shareholders with an overly optimistic prediction of its infant formula sales.
The solicitor behind the successful challenge to the claim for ill-gotten spoils by the Banksia Securities class action legal team says he draws little comfort from the conclusion by the judge who strongly condemned the misconduct that the legal system is capable of regulating itself. More needs to be done to root out the systemic causes of the arrogance on display in the case, he says.