The lead applicant in a $47.6 million class action against McMillan Shakespeare over ‘illusory’ car warranties will seek court approval for a $9.5 million settlement, less than 20 per cent of the claim value.
Aircraft engineers for Qantas are challenging a ruling that the airline had no “genuine choice” when it stood them down in March during the COVID-19 pandemic.
Rideshare giant Uber Technologies has lost a bid to keep its in-house legal team from handing over emails to a class action brought by Australian taxi drivers as well as the company behind the GoCatch taxi app.
The Federal Court has ordered former Tennis Australia director Harold Mitchell to pay a $90,000 penalty after a “narrow” win for ASIC in its case over the domestic broadcast rights to the Australian Open.
A judge has sided with Worley in a ruling tossing a class action after a trial alleged the engineering company misled shareholders and breached disclosure rules by issuing an overly positive earnings guidance of $322 million for the 2014 financial year.
A judge’s decision to throw out a shareholder class action against engineering company Worley is a loss for plaintiffs lawyers and could result in fewer listed companies willing to settle cases alleging they breached their disclosure obligations, but the ruling is not likely to have a significant chilling effect on securities litigation.
A judge has sided in part with QBE Insurance and pared back a class action over allegedly worthless add-on insurance sold by ANZ to credit card and personal loan customers.
A judge has agreed to consolidate two shareholder class actions against Treasury Wine Estates over an earnings downgrade in January and will let two law firms jointly run the case, over the winemaker’s objections.
Five investment banks facing a class action for their alleged rigging of foreign exchange rates have slammed the “unclear” and “incredibly vague” case, saying it contains “literally trillions” of possible variations of the cartel agreement allegedly entered into.
Qantas has praised a Federal Court judgment ruling that the airline had no “genuine choice” other than standing down its workers during the COVID-19 pandemic, saying the judgment was a “victory for common sense”.