An appeals court has tossed a challenge to the dismissal of an investor class action against the Public Trustee of Queensland over a failure to predict the 2008 collapse of Gold Coast-based finance group Octaviar, finding that the class had run a case based on allegations outside of its claims.
A judge has questioned whether he should approve the $3 million legal bill in the settled Discovery Metals shareholder class action against KPMG, amid concerns the plaintiff’s lawyers, Piper Alderman, breached legal profession regulations by failing to update their estimated costs.
A judge has signed off on the confidential settlement of a shareholder class action brought against KPMG relating to the failed $830 million hostile takeover of mining firm Discovery Metals, despite objections that the settlement process was “unfair and unjust”.
A hearing scheduled for later this year in several class actions and an ACCC proceeding over allegations Volkswagen installed dual-mode software in diesel vehicles to cheat on emissions tests has been postponed, despite cries of prejudice from the consumer regulator.
The Bank of Queensland has criticised a judgment which found the bank’s insurance policy left it on the hook for a $6 million settlement of a class action brought by investors in a multi-million dollar Ponzi scheme by jailed fraudster Bradley Sherwin.
Litigation funder Litigation Capital Management will snap up 30 percent of a confidential settlement amount that KPMG has fought to keep under wraps in a shareholder class action over a failed $830 million hostile takeover bid of mining firm Discovery Metals.
The Commonwealth Bank of Australia has launched a bid to stay a shareholder class action brought by boutique law firm Phi Finney McDonald after the firm retreated from a plan to consolidate its case with a competing class action run by rival Maurice Blackburn.
A surgeon who was considering opening a health clinic in Coffs Harbour, NSW recorded one of the meetings central to the competition watchdog’s action against Ramsay Health, in which alleged anti-competitive threats were made by a CEO of two Ramsay units, a court has heard.
Ramsay Health Care has denied its conduct towards a group of surgeons seeking to open a rival clinic in Coffs Harbour, NSW was anti-competitive or a misuse of market power, telling the court on the first day of trial that the venture was doomed to fail.
A judge’s decision to halt questioning about ASIC emails in a class action trial over the 2008 collapse of finance group Octaviar didn’t shut the case down, the Public Trustee of Queensland has told the Full Federal Court, calling the appeal of the class action’s dismissal “completely misconceived”.