A judge has approved a $1 million settlement in a shareholder class action against failed tech start-up GetSwift that leaves the law firm running the matter taking a “massive haircut” and the funder $5.5 million out of pocket.
A $1.5 million class action settlement against failed logistics provider GetSwift, which a judge termed a “disaster”, has been revised down to $1 million and may face a liquidators’ challenge that could see a group members recover nothing.
Liquidators of failed tech company GetSwift have foreshadowed an objection to a $1.5 million settlement going to shareholders in a class action that a judge has labelled a “disaster”.
A judge overseeing a shareholder class action against the now failed GetSwift has urged the applicant to decide soon if he will forge ahead with a problematic settlement, seek summary judgment or wait to see what comes of the parent company’s bankruptcy case.
A judge has slammed Domino’s for its “entirely unsatisfactory” opening submissions in an underpayments class action, warning the pizza giant not to hide arguments and evidence up its sleeve.
In a boost to shareholder class actions, the High Court has dismissed an application by engineering services firm Worley to appeal a finding that companies should disclose to the market forecasts that ought reasonably to have been held.
Airservices Australia has succeeded in overturning a “manifestly unreasonable” $72,450 fine, but otherwise failed in its appeal of a decision which found it breached an enterprise agreement by withdrawing guidelines for standby shifts for air traffic controllers.
A judge has rejected a class action law firm’s challenge to her decision to slash its fees in two underpayments class actions against supermarket chain Romeo’s after finding it “seriously breached” rules of the legal profession.
Embattled investment firm Linchpin Capital has sued auditors Grant Thornton and Moore Stephens for signing off on the compliance plan for a registered fund that allegedly used investor money to advance the company’s business interests and line its directors’ pockets.
A judge has blasted Domino’s for its obstructionism in an underpayments class action and promised to order the pizza franchise giant to hand over information on its stores to facilitate settlement.