The law firm and funder behind a class action against collapsed engineering and construction company Forge Group, former directors and their insurers, which has now settled for $16.5 million, have proposed cuts that would see $8.25 million left over for distribution to group members.
The plaintiffs firms running rival shareholder class actions against construction giant Lendlease have pitched a proposal to join their competing cases, a plan that should find favour with the judge overseeing the cases, who recently forced the consolidation of three duplicate class actions against failed engineering firm RCR Tomlinson.
A Federal Court judge has dismissed an application by GetSwift to delay the hearing of a shareholder class action against it, despite arguments that a judge would need to be “superhuman” to hear the trial immediately after a civil penalty hearing brought by ASIC against the logistics company.
Aged care provider Estia Health has launched a bid to strike out the pleadings in a Phi Finney McDonald-led shareholder class action, accusing the law firm of making “speculative allegations” in the hope of strengthening its case later on.
Facebook and Instagram have denied allegations they breached Australia’s competition law when they terminated the accounts of a Melbourne-based startup, saying they were entitled to block the company from their platforms.
Arguing the pleadings are “evasive or ambiguous”, Domino’s Pizza has made a bid to strike out the statement of claim filed in a class action alleging franchisees underpaid thousands of workers across Australia for five years.
Two competing shareholder class actions against developer Lendlease have been locked in for a beauty parade before the judge who recently forced the consolidation of three class actions against engineering firm RCR Tomlinson.
The judge overseeing proceedings brought against logistics company GetSwift has refused the corporate regulator’s request for another year’s worth of documents, saying it could effectively require the company to start the discovery process over again.
Engineering company UGL has reached an in-principle settlement in a class action alleging it kept shareholders in the dark about problems with a $900 million contract for a power plant for the Ichthys LNG project in the Northern Territory.
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.