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.
Lawyerly’s Litigation Firms of 2020 delivered significant victories for clients last year in bet-the-company matters, thriving in a tumultuous year that saw courts and litigants adapt to virtual trials and other new norms that are sure to outlast the COVID-19 pandemic.
Two law firms that have filed competing class action against AMP over allegedly excessive insurance premiums have changed tack and agreed to consolidate the proceedings.
BHP Group Ltd has appealed a ruling allowing foreign group members to be part of a shareholder class action against the mining giant over the Fundao dam failure in Brazil five years ago.
Mining giant BHP has lost a fight to keep foreign group members out of a shareholder class action over the Fundao dam failure in Brazil five years ago.
Shareholders who lost a Federal Court trial in their class action against engineering company Worley are challenging the decision to dismiss the case.
A showdown over two competing class actions against AMP is set down for December, and the applicants will have to persuade the judge overseeing the cases that they should not be consolidated.
A judge has sided with Worley in a ruling tossing a class action after a trial alleged the engineering company misled shareholders and breached disclosure rules by issuing an overly positive earnings guidance of $322 million for the 2014 financial year.
A judge’s decision to throw out a shareholder class action against engineering company Worley is a loss for plaintiffs lawyers and could result in fewer listed companies willing to settle cases alleging they breached their disclosure obligations, but the ruling is not likely to have a significant chilling effect on securities litigation.
A judge has given the greenlight to AUSTRAC’s $1.3 billion penalty against Westpac over the bank’s 23 million breaches of money laundering and counter-terrorism laws, the biggest regulatory fine ever paid by an Australian company.