Concerns that the proposed acquisition of Sirtex Medical by a Chinese private equity firm would leave the company with insufficient funds to cover a settlement or judgement in a class action were eased Wednesday, after a barrister said the takeover would leave the company with just under $1 billion in assets.
The two directors of biodegradable coffee pod startup iCapsulate have been ordered into mediation to try to resolve a feud over whether to liquidate the company, a year after it was offered $2.5 million by an investor on reality TV show Shark Tank.
The decision by a federal judge to refuse calls for a confidentiality order keeping under wraps S&P Global’s massive class action settlement is a welcome one, experts say, and a preview of judgments to come.
S&P Global will pay $215 million to settle six consolidated class actions brought by investors over toxic CDOs, a figure revealed by the Federal Court on Thursday despite calls that it be kept secret.
A $3 million settlement in the shareholder class action against the directors of failed mining company Kagara has been approved, with a Federal Court judge saying the amount is fair and reasonable despite two-thirds of it going to the lawyers and funder that brought the case.
The Full Federal Court has handed Johnson & Johnson unit Ethicon a victory in the class action over its allegedly defective vaginal mesh devices, partly reversing a judge’s decision that expanded the class post-trial.
Companies breaching the Australian Consumer Law will be hit with higher fines after the Federal Parliament on Thursday passed a bill that aligns the maximum penalties with fines for competition law violations.
Fundraising company Appco Group Australia has failed in its bid to put a massive sham contracting class action in the Federal Court on hold while it fights a ruling that let the case continue as a representative proceeding.
After signalling last month they were close to resolving their trade mark dispute, real estate companies RE/MAX and Resimax have been been given one last chance — and one more week — to settle.
Ethicon told the Full Federal Court on Monday that the judge overseeing the marathon class action against it over allegedly defective vaginal mesh devices got it wrong when she reset the dates for inclusion in the class.