A judge has signed off on a $6.7 million settlement in a shareholder class action against mining firm MacMahon Holdings that will see group members get $2.4 million, or 35 per cent, of the total sum.
The Australian Securities and Investments Commission has promised it will stay away from the depositions of two former Rio Tinto executives in proceedings underway in the US, as it pursues a parallel case over allegedly misleading market statements the mining company made about the reserves of a $4 billion coal acquisition.
Labour hire company Workpac has been fined just $1,650 after a groundbreaking Full Federal Court decision that a casual employee could be eligible for annual leave, with a judge saying the low penalty reflected the lack of clarity in the law.
A Queensland ethanol refinery, owned by United Petroleum, has lost a dispute with its insurer Allianz Australia over coverage for damage resulting from a 2016 fire.
Shareholders who registered for a class action against mining company MacMahon Holdings will get a $2.4 million cut of a proposed $6.7 million settlement, according to a notice sent to group members ahead of next week’s settlement approval hearing.
Labour on-hire and recruitment company CoreStaff is facing a class action alleging it violated the consumer laws by luring workers to Australia from Papua New Guinea with the promise of long-term work, only to terminate their employment agreements less than three years after they relocated.
Engineering and infrastructure firm RCR Tomlinson has been put into administration, a few days after being hit with a shareholder class action over $57 million in write-downs on two of its North Queensland solar farms.
Law firm Quinn Emanuel Urquhart & Sullivan has launched a shareholder class action against engineering and infrastructure firm RCR Tomlinson after “catastrophic” losses caused by $57 million in write-downs on two of the company’s North Queensland solar farms.
Renewable energy company Infigen Energy has agreed to settle a class action over the January 2017 Currandooley bushfire that was sparked by a crow that was electrocuted from a transmission line carrying power from the company’s Woodlawn wind farm near Tarago, New South Wales.
The Australian Securities and Investments Commission claims Rio Tinto’s former CFO was referring to the write down for the reserves for two coal assets that were part of a $4 billion acquisition of Rio Tinto Coal Mozambique when he sent an email to the company CEO in January 2012 that contained the phrase “worse by far than expected”.