A Federal Court judge has signed off on an $18 million settlement in a shareholder class action against UGL over its Ichthys power plant disclosures under which $8 million will be distributed to shareholders.
The applicants in a group of class actions over defective Takata airbags are pushing ahead with a challenge to the power of the NSW Supreme Court to issue class closure orders in the aftermath of a High Court decision shooting down common fund orders, a fight that could send the cases back to the High Court.
A magistrate has dismissed a bid to expand the cross examination of a JPMorgan witness in the closely watched criminal cartel case over a $2.5 billion ANZ share placement, calling it a “back door” attempt to bypass a prior court ruling.
A committal hearing in the ANZ cartel case may run a further nine days next year due to ongoing arguments about subpoenas and privilege, which have derailed five planned days of cross-examination of key witnesses and led a Local Court Magistrate to proclaim she was “awful close” to ending her life.
A judge has shot down a bid by class action applicants to block 7-Eleven from seeking litigation releases from franchisees on contract renewal, saying there was no evidence the convenience store giant had acted unlawfully.
US biotech giant Gilead has struck back at a patent infringement lawsuit brought by a specialist HIV pharmaceutical company majority owned by GlaxoSmithKline, saying the patent at the centre of the lawsuit is invalid.
The head of Australia’s largest unlisted insurance broker, Coverforce, may face a future damages claim for misleading or deceptive conduct if a recent acquisition of former Suncorp unit Resilium is not reversed, a court has found.
The banks and executives facing criminal charges over alleged cartel conduct related to ANZ’s $2.5 billion share placement in 2015 will fight to widen their cross-examination of key ACCC witnesses after new information was brought to light in late submissions by the regulator.
A key witness from JPMorgan previously contested claims by the ACCC that a key component of an alleged cartel arrangement between four major banks around a $2.5 billion institutional share placement by ANZ was actually an ‘agreement,’ as opposed to a series of independent decisions, a court has heard.
Two months after rejecting the deal because the litigation funder’s cut appeared excessive, a judge has approved a $42 million class action settlement with Murray Goulburn while the funder keeps up the fight over its commission.