A class action against water treatment company Phoslock and auditor KPMG should not be held up until a shareholder that’s stuck in preliminary discovery proceedings files a competing case, a court has heard.
In a win for ASIC, the Federal Court has found that non-bank lender Firstmac Limited breached the design and distribution obligations, introduced in 2021, by marketing a managed investment scheme that could be unsuitable for customersā financial needs.Ā
The corporate regulator has confirmed it has questioned the brother of former Nuix CFO Stephen Doyle and might seek further examination as part of its ongoing investigation of the troubled tech company.
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 judge has approved a “disappointing” $25 million settlement in long-running class action litigation over the collapse of electronics retailer Dick Smith with claims worth hundreds of millions of dollars.
The lead applicant in a shareholder class action against laser technology company Arasor will walk away with a fraction of the approximately $508,000 in legal and other bills it has racked up in disputes with the ATO and funder International Litigation Partners following the approval of a $19.25 million class action settlement more than two years ago.
A judge has refused to order the removal of a selfie photograph with model Kylie Jenner from the personal Instagram account of the former CEO of a trendy Australian sunglasses retailer, saying such an injunction would intrude on her āpersonal freedomā.