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Judge refuses class action’s bid to amend forex cartel case against banks
Class Actions 2021-02-01 3:24 pm By Christine Caulfield

A judge has sided with five investments banks and rejected a bid to amend a class action alleging a series of cartel agreements to rig foreign exchange rates, saying there were “substantial problems” with the proposed pleadings.

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Group members will get about half of $50M Vocation class action settlement
Class Actions 2020-12-18 2:37 pm By Cat Fredenburgh

Shareholders of collapsed vocational training company Vocation are poised to get about half of a $50 million settlement reached last month in a complex, long-running class action alleging the company failed to make adequate disclosures about its contracts with the Victorian Department of Education.

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$50M settlement resolves class action against Vocation, PwC
Class Actions 2020-11-30 9:07 pm By Cat Fredenburgh

A $50 million settlement has been reached in a long-running shareholder class action against defunct vocational training company Vocation that also spawned multiple cross-claims against the failed company’s auditor PricewaterhouseCoopers, law firm Johnson Winter & Slattery and individual directors.

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Rio Tinto execs’ trial vacated given likelihood of COVID-19 vaccine
COVID-19 2020-11-27 6:58 pm By Spencer Fowler Steen

A judge has vacated a seven-week trial in proceedings brought by ASIC against two former Rio Tinto executives to March or April 2022, after they requested a “lengthy delay” to ensure a COVID-19 vaccine would be available before they travel to Australia for trial.

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Rio Tinto execs’ trial can wait until COVID-19 vaccine, court hears
COVID-19 2020-11-23 10:32 pm By Spencer Fowler Steen

A former Rio Tinto executive living in the US who wants to appear in person at an upcoming trial in a case brought by ASIC says the hearing should be moved to next year when a COVID-19 vaccine will likely become available and he could travel to Australia to “mount a vital defence”.

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Settlement reached in shareholder class action against Vocation, auditor PWC
Class Actions 2020-09-18 10:33 pm By Cat Fredenburgh

A shareholder class action against Vocation that has spanned five years and spawned multiple cross claims against the failed training company’s auditor, law firm and individual directors, has reached an in-principle settlement.

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