Group members in a shareholder class action against livestock exporter Wellard will get 34 per cent of a $23 million settlement if the court approves deductions sought by the funder and law firm that ran the case.
It’s a case of déjà vu in a class action against engineering services company Worley, with shareholders heading back to the appeals court after losing a second trial in their drawn out fight over disclosure breaches.
A shareholder class action against livestock exporter Wellard over a profit downgrade following its $300 million initial public offering in 2015 has settled for $23 million.
Construction giant Boral has lost its bid to block a class action from running a ‘novel’ argument that shareholders suffered loss because of natural fluctuations in share price, rather than as a direct result of alleged continuous disclosure breaches.
Defending allegations that its popular weed killer Roundup is carcinogenic, agrochemical giant Monsanto has accused the class action of having its “finger on the scales” when presenting scientific evidence to the court.
A class action against agrochemical giant Monsanto has told the court that there is “no safe level of exposure” to carcinogens allegedly present in the company’s popular weed killer Roundup.
A judge has discontinued a class action by Victorian councils against insurer JLT Risk Solutions, but has departed from the decisions of two other judges by ruling the suspension of the time limit for bringing the councils’ claims will immediately be lifted.
Awaiting judgment in Federal Court class actions by shareholders over its money laundering risk disclosures, the Commonwealth Bank will ask the court to reopen the case to consider the relevance of two recent decisions that found shareholders in other class actions had failed to prove loss.
New Zealand construction giant Fletcher Building has hit back at a shareholder class action over allegedly misleading forecasts for the 2017 financial year, saying some of the claims under New Zealand law were brought out of time.
Companies and government entities paid out less to settle class actions in 2023 than in the previous two years, with no mega settlements hitting their pocketbooks.