A judge has criticised a proposed settlement notice in a shareholder class action against GetSwift for failing to inform group members of how much they would receive from the “very light” settlement, which relies heavily on the logistics firm’s success after relocating out of Australia.
The Commonwealth Bank’s wealth management unit has agreed to cough up $20 million in penalties for misleading thousands of fund members during the transition to MySuper accounts, but steadfastly maintains its conduct was not part of a “nefarious” plot for profits.
A six-week trial in a shareholder class action against Crown Resorts set to begin at the end of October will start off virtually and shift to an in-person hearing once COVID-19 restrictions are eased in Victoria.
While acknowledging it was a ‘loaded’ word, a judge has rejected a bid by the federal government to edit out the word ‘stolen’ from a notice to members of the third stolen wages class action brought by Shine Lawyers.
Commonwealth Bank of Australia unit Colonial First State Investments is facing penalties after the Federal Court found it misled its customers about their rights and obligations relating to the MySuper reforms passed by the federal government in 2012.
A judge has questioned why a class action against Aveo Group has “stalled” after tossing the retirement home provider’s bid to determine group members’ loss in a preliminary hearing, saying the questions in the case could not be “neatly separated”.
Retirement home provider Aveo Group, which is facing a class action by residents, wants a court to determine group members’ loss in a preliminary hearing, but a judge has questioned whether he is barred from deciding the “hypothetical” question.
A judge has again suggested the Full Court should weigh in on whether the court has the power to make class closure orders, but the barrister for the applicant in an underpayments class action against Domino’s Pizza told the judge her client may not want to be the test case.
Worley’s increases to a budget behind an allegedly misleading 2014 earning guidance, amounting to $1.14 million, were a “drop in the ocean”, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.
Worley crafted the budget behind an allegedly misleading 2014 earnings guidance so that its shares could be rated as a “growth stock”, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.