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Trial judge in Brambles class action questions long-term financial forecasts
Trials 2022-08-10 11:50 pm By Sam Matthews Melbourne

A judge overseeing the trial in a shareholder class action against chain logistics company Brambles has questioned the company’s use of long-term financial forecasts.

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ASIC says Australian Mines lied about funding for ‘critical’ $500M project
Energy & Natural Resources 2022-05-10 4:53 pm By Cat Fredenburgh Melbourne

The corporate regulator has taken Australian Mines to court after its managing director was allegedly caught lying at an investment conference about the value of an offtake agreement and funding for a project at its cobalt and nickel mine in Queensland.

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Mayfair’s James Mawhinney wants reprieve from ASIC’s contempt case
Financial Services 2022-03-17 4:14 pm By Cindy Cameronne Sydney

Mayfair 101 director James Mawhinney has sought a temporary stay of ASIC’s case accusing him of being in contempt of court for allegedly breaching a 20-year ban on selling financial products.

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Judge finds ‘no immediate threat’ of harm in ASIC’s contempt case against Mayfair’s Mawhinney
ASIC 2022-02-18 4:19 pm By Bianca Hrovat Sydney

The Australian Securities and Investments Commission has lost an interim injunction bid against the director of investment firm Mayfair 101 in its case seeking a contempt finding, despite arguing there was a substantial risk of harm to consumers.

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Brambles class action ‘sidesteps’ challenge to landmark class closure ruling, judge says
Class Actions 2021-08-05 9:21 pm By Cindy Cameronne Sydney

A judge has said the applicant in a class action against Brambles has “side-stepped” a challenge to a landmark class closure ruling that found there was no statutory power to shut out unregistered class action members, a decision that he said had “bedevilled” the courts.

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CFOs in spotlight again as High Court weighs 7-Eleven special leave bid
Analysis 2021-06-22 11:17 pm By Christine Caulfield Melbourne

The power to make common fund orders in class actions is a question before the High Court a second time, but the justices aren’t likely to quell the conflict simmering in the courts below, at least until they have a concrete order before them.

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‘I don’t think it’s right’: Federal Court judge not a fan of landmark class closure ruling
Class Actions 2021-06-04 4:00 pm By Cindy Cameronne Sydney

A Federal Court judge has made his feelings known about a ruling by the NSW Supreme Court last year that found judges have no power to shut unregistered group members out of a class action, but said he was “just a single judge” and was bound by the decision.

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Judge signs off on $38.4M settlement in Estia Health class action
Class Actions 2021-05-07 12:16 pm By Christine Caulfield Melbourne

A $38.4 million settlement in a shareholder class action against aged care provider Estia Health has been given the greenlight by a Federal Court judge, who also approved the funders’ recovery of after-the-event insurance, a decision that puts him at odds with some of his colleagues on the bench.

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Judge mulling $38.4M Estia settlement hears class closure rulings ‘plainly wrong’
Class Actions 2021-05-04 2:49 pm By Miklos Bolza Sydney

A judge weighing a $38.4 million settlement in a shareholder class action against aged care provider Estia Health has been told that two NSW Court of Appeal judgments barring class closure were “plainly wrong”, but in deciding whether to lock group members out of the settlement the judge says he won’t need to grapple with the landmark rulings.

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Surfstitch class action lawyers’ conduct not ‘egregious’, but payout should be capped, judge says
Class Actions 2021-02-22 3:19 pm By Miklos Bolza Sydney

A judge has signed off on a settlement in two shareholder class actions against clothing retailer Surfstitch, but has capped the legal costs and commissions sought by the litigation funders after finding the law firms behind the cases sent out notices to group members that were “misleading” and “understated” the risks of joining the class.

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