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.
The Queensland Supreme Court has upheld the legality of litigation funding agreements in a landmark class action judgment that could have a ripple effect across other states in Australia.
The plaintiffs in one of two shareholder class actions brought against troubled sandalwood producer Quintis have complained about potential delays that could result from the “overly complicated loss theory” being advanced in a parallel class action.
Six individuals interviewed by ASIC in relation to the collapse of sandalwood producer Quintis have sought leave to intervene in the regulator’s case against the company’s founder, Frank Wilson, after he sought discovery from ASIC of interview transcripts.
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.
Law firm Quinn Emanuel Urquhart & Sullivan will push forward with an investor class action against failed engineering company RCR Tomlinson on its own, with two firms driving competing actions agreeing to step down after a judge forcibly consolidated all three proceedings.
The plaintiffs in three competing RCR Tomlinson shareholder class actions have been told to “get their act together” by the judge who forcibly consolidated their proceedings, after the parties revealed they were as yet unable to agree on joint funding terms.
The Full Federal Court is set to hear appeals in four class actions in the August sitting, giving the court a chance to address important issues, including cost-capping in joint class actions and security for costs in unfunded cases. Here, we give you the run-down on each of the upcoming challenges.
The judge overseeing three competing shareholder class actions brought against RCR Tomlinson has refused to entertain a beauty contest, instead deciding to consolidate the proceedings whether the parties “agree or not”.
A judge has rejected a proposed common fund order in the settled KPMG class action, saying the funder’s commission was “arguably excessive” and could result in a “stratospheric” return to the firm.