Recycling company Sims Limited will pay $29.5 million to settle a shareholder class action alleging earnings guidance for FY16 failed to account for the likely prospect of falling scrap metal prices.
A class action alleging the federal government contaminated Indigenous land with toxic firefighting foam has lost a challenge to a report by a scientist who declined to find that the foam could cause adverse health effects including immunosuppression and interfere with the efficacy of vaccines.
The litigation funder backing two combustible cladding class actions has sold a third of its investment in the cases to a player in the nascent secondary market for class action financing.
Ernst & Young has settled all claims against it in a shareholder class action alleging the Big Four accounting firm and Pitcher Partners signed off on an overly rosy year-end financial report that failed to disclose risks and impairments associated with the law firm’s disastrous $1.2 billion acquisition of UK insurance claims company Quindell.
A litigation funder challenging a decision underpinning recently enacted rules that require class actions to be registered as managed investment schemes told an appeals court Wednesday the decision was plainly wrong and the regime unworkable.
Two insurers have won an appeal that blocks group members in a class action against sandalwood producer Quintis from receiving a further $11.25 million after a settlement was reached almost two years ago.
A fight over the venue for a class action against KPMG by investors in the collapsed mining company Arrium has been taken to the High Court, and at the centre of the battle is a contingency fee order made in the case.
A judge overseeing a shareholder class action against Crown Resorts has ordered the casino giant to give details of board members’ knowledge about two bank accounts which were allegedly used to launder hundreds of millions of dollars.
A litigation funder will seek a commission of up to 25 per cent in a class action against Toyota that could see the automotive giant owe close to $2 billion to 260,000 car owners after a judge found diesel filters in its cars were defective.
A judge has approved a 40 per cent group costs order for the law firm that’s running a class action against KPMG and former directors of collapsed mining company Arrium, the highest approved since the state began allowing lawyers to earn a cut of class action awards.