A shareholder class action led by Bannister Law against sandalwood oil producer Quintis will be absorbed by rival law firm Gadens in a consolidation agreement that ends a battle over the competing cases.
Accounting giant Ernst & Young, which is accused in a class action of misleading and deceptive conduct in signing off on the 2015 and 2016 financial reports of sandalwood producer Quintis, has named the company’s previous auditor as partly to blame in any finding of liability.
A judge has taken a hatchet to Quinn Emanuel’s fees and the funder’s cut in a $12 million settlement of a class action against Bank of Queensland, a settlement which he previously described as one of the “worst” he’d ever seen.
Litigation funder Investor Claim Partner won’t promise it will maintain a lower commission rate in one of the Dick Smith class actions if mediation is delayed to next year.
Bannister Law has stepped down from leading a shareholder class action, the second major class action the firm has recently handed over to a rival firm without explanation.
Westpac-owned BankSA has admitted that convicted Ponzi schemer Michael Samra withdrew funds at “near excess” of the bank’s limits and had insufficient money to honour cheques drawn on his company’s bank account.
A Dick Smith shareholder has lost his bid to bring a separate proceeding against the failed home goods retailer while two class actions are afoot.
A judge has rejected a bid by the applicants in two shareholder class actions against online fashion retailer Surfstitch to push forward with a proposed settlement of the cases without an opt-out notice to group members.
Rebel Wilson has lost a bid to have the High Court reconsider an appeals court’s decision to slash her record $4.75 million award in a defamation case against Bauer Media to $600,000.
Lawyers leading a class action against Quintis want the failed sandalwood oil producer to hand over evidence of any insurance policy that could cover the company and its founder for damages sought in the case.