A firm owned by solicitor Mark Elliott has reached an agreement resolving a dispute with Treasury Wine Estates over the costs the firm should pay in a stayed class action against the winemaker.
A judge on Friday asked the corporate regulator why it delayed action against former Murray Goulburn managing director Gary Helou and CFO Bradley Hingle until two years’ after the consumer watchdog brought its case against the pair.
Dairy supplier Murray Goulburn has agreed to pay $42 million to settle one of two shareholder class actions over a 2016 profit forecast revision that sent the co-op’s unit price falling more than 40 per cent in five days.
A firm owned by solicitor Mark Elliot has launched an appeal challenging costs orders made against it in a stayed class action against winemaker Treasury Wine Estates.
The Federal Court has granted Treasury Wine Estates costs of a stayed class action filed against it by a firm owned by solicitor Mark Elliott, despite a settlement in a related class action barring TWE from seeking remedies from class members.
The funder that’s bankrolling a shareholder class action against Murray Goulburn is seeking court approval for a funding agreement under which it would get a 28 per cent cut of any settlement.
Murray Goulburn has told a judge it may seek to cap costs in two shareholder class actions that centre on a 2016 profit forecast revision, taking a page from the playbook of baby food maker Bellamy’s.
The judge presiding over two shareholder class actions against Murray Goulburn indicated Friday he would likely let both cases proceed jointly to a trial in 2020.
The lead applicant in a class action against Murray Goulburn has lost a bid for access to documents showing the dairy cooperative’s trust consulted with a QC about possible negligence claims against Herbert Smith Freehills.