Construction giant Lendlease has filed its defence in one of two shareholder class actions filed against it, saying any losses investors allegedly suffered were wholly or partly due to their own failure to take reasonable care.
Collapsed engineering and construction company Forge Group has agreed to settle a shareholder class action over alleged continuous disclosure breaches, which will see the funder pocket about $7.5 million.
Construction giant Lendlease faces a second shareholder class action over market disclosures relating to its underperforming engineering division, and joining the case is one of the biggest public pension funds in the US.
Residential aged care provider Estia Health says it will “vigorously defend” a class action filed by Phi Finney McDonald on behalf of shareholders who allege the company failed to disclose serious commercial difficulties with its acquisition strategy.
A judge overseeing a class action against engineering company UGL has agreed to extend a class closure order to give the parties a second chance to resolve the case in mediation, but not without expressing concerns that the order did not have the intended effect of encouraging settlement at the first sit-down.
Rival law firms Maurice Blackburn and Phi Finney McDonald will be allowed to work together without consolidating their separate shareholder class actions against the Commonwealth Bank of Australia, after a judge ruled that the bank had overstated the potential for extra costs and delays.
A NAB-owned trustee is facing a possible class action over $100 million in allegedly excessive fees charged to super fund members.
Boutique class actions law firm Phi Finney McDonald has won its bid to reserve costs incurred before its case was permanently stayed in the AMP shareholder class action beauty contest, after the firm racked up at least 1,345 hours in “sunk costs”.
Domino’s Pizza says it will defend a class action filed against it on behalf of thousands of delivery drivers and in-store workers who were allegedly systemically underpaid by franchisees over a five-year period.
Rival law firms Phi Finney McDonald and Maurice Blackburn have offered to consolidate their competing shareholder class actions against BHP after prompting by the Full Federal Court, which said Friday it approved of the plan.