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Quintis misled the market, but class action’s loss narrative lost the case
Class Actions 2025-02-25 11:50 pm By Christine Caulfield

In tossing the sixth securities class action to go to trial in recent years, a Federal Court judge has shown the task of proving shareholder loss is a doozy.

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Shareholder class action against EY, Quintis founder dismissed by court
Class Actions 2025-02-24 9:44 am By Christine Caulfield

Although finding the former director of Quintis and its auditor, EY, engaged in misleading and deceptive conduct, a judge has dimissed a class action by the sandalwood producer’s shareholders.

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S&P fails in bid for all class action expert evidence to be thrown out
Class Actions 2025-02-13 3:55 pm By Cindy Cameronne

Ahead of an eight-week trial in an investor class action in July, ratings agency S&P has lost its bid to throw out the entirety of the expert evidence in the case.

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Law firm can’t dodge $5.4M security in Macquarie class action
Class Actions 2025-01-06 7:24 pm By Cindy Cameronne

Maurice Blackburn is stuck paying $5.4 million in security in a flex commissions class action against Macquarie, with a judge saying it represents a ā€œbusiness risk willingly undertakenā€.

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‘Replete with error’: Firm fights $5.4M security order in Macquarie class action
Class Actions 2024-11-28 11:13 pm By Sam Matthews

A law firm is challenging an order that it pay $5.4 million in a class action against Macquarie Leasing as security for the lender’s costs, saying concerns about its borrowing capacity were ā€œtheoretical and speculative.ā€

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S&P entitled to Rolls-Royce defence in CDO class action: court
Financial Services 2024-10-28 11:26 pm By Cat Fredenburgh

S&P is free to pay for a Rolls-Royce defence in “Rolls-Royce litigation” that alleges the agency engaged in fraud in assigning ratings to risky financial products, a judge has said.

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With new self-funding model, class action firm’s promise to pay Macquarie’s costs not enough
Class Actions 2024-10-09 11:30 pm By Cat Fredenburgh

With its new business model of self-funding class actions, Maurice Blackburn can’t get by with an undertaking to indemnify Macquarie for its costs if a case over flex commissions fails.

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S&P class action judge to hear fight over evidence of fraud
Class Actions 2024-09-30 11:30 pm By Andy Sidler

A class action over S&Pā€™s rosy ratings on risky financial products faces a preliminary fight over the relevance of expert evidence that seeks to prove fraud on the part of the ratings agency.

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‘Horse has bolted’: Judge declasses COVID-19 insurance class actions
Insurance 2024-09-23 11:14 pm By Cindy Cameronne

Four proceedings over COVID-19 business interruption losses will be stripped of class action status, with a judge saying most of the common issues were already determined in test cases.

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Flex commission class action pleadings ‘inappropriate and unhelpful’, says judge
Financial Services 2024-08-30 2:03 pm By Cindy Cameronne

A judge has criticised the pleadings in class actions against ANZ, Macquarie and Westpac over flexible commission schemes for car dealers, saying they were “inappropriate and unhelpful” in referring to documents in the banking royal commission.Ā 

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