Lawyerly’s Litigation Law Firms of 2022 racked up precedent-setting victories in a year that continued to see major developments in class action law.
Fintech iSignthis has dropped a $464 million lawsuit brought against the Australian Stock Exchange three years ago over allegedly misleading conduct in relation to the suspension of the company’s shares.
The High Court has declined special leave to a former Rigby Cooke client who unsuccessfully challenged the law firm’s win in a dispute over a $24.5 million East Melbourne development.
Defence shipbuilder Austal and its CEO have agreed to pay a combined $700,000 in penalties for violating the Corporations Act by failing to notify the market of a US$90 million writeback related to the company’s $3.5 billion US Navy warship program.
BHP Group has lost its High Court battle to keep foreign investors from an Australian shareholder class action over the devastating collapse of a Brazilian dam.
Construction firm CIMIC has foreshadowed a fight over “obscure” new pleadings in a two year-old shareholder class action alleging the company failed to keep the market informed about issues with its Middle East operations.
Several lenders have appealed a ruling that found they failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse, saying it was a “no brainer” that the company was in dire straits when its directors sought extra funds.
Rigby Cooke has prevailed in an appeal by a former client that challenged a ruling for the law firm over a $24.5 million East Melbourne development.
IOOF financial advice unit RI Advice has escaped a penalty in a test case alleging cybersecurity failures, but the firm must engage an IT security company and pay the corporate regulator’s legal costs.
The Australian Stock Exchange is seeking $3.25 million in security for costs as it defends a $464 million lawsuit brought by fintech firm iSignthis, a move spurred on by the 2021 demerger of iSignthis and ISX Financial EU.