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Piper Alderman says costs breach in KPMG class action ‘obviously accidental’
Class Actions 2019-05-31 2:42 pm By Amelia Birnie

Piper Alderman has urged a judge to excuse its “obviously accidental” breach of legal profession costs regulations in its Discovery Metals investor class action against KPMG, warning that group members could suffer detriment if its $3.5 million legal bill was not approved quickly.

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GetSwift faces scrutiny by class action law firm after ASX trading halt
Securities 2019-05-29 9:48 pm By Christine Caulfield

The law firm running a shareholder class action against GetSwift confirmed it was looking at the events surrounding Tuesday’s trading halt by the Australian Stock Exchange but would not be amending its ongoing case against the logistics company in light of it.

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Judge questions Piper Alderman’s $3.5M legal bill in KPMG class action
Class Actions 2019-05-28 1:59 pm By Amelia Birnie

A judge has questioned whether he should approve the $3 million legal bill in the settled Discovery Metals shareholder class action against KPMG, amid concerns the plaintiff’s lawyers, Piper Alderman, breached legal profession regulations by failing to update their estimated costs.

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Insufficient evidence Piper Alderman discriminated against female partner, judge says
Employment 2019-05-27 10:28 pm By Miklos Bolza

A judge has found a senior female partner at Piper Alderman has not provided sufficient evidence that the firm moved to oust her from its ranks because she is a woman, in a ruling dismissing her bid for an order halting the firm from moving forward with a meeting on the proposed expulsion.

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Court approves confidential KPMG class action settlement over objections
Class Actions 2019-05-27 9:32 pm By Amelia Birnie

A judge has signed off on the confidential settlement of a shareholder class action brought against KPMG relating to the failed $830 million hostile takeover of mining firm Discovery Metals, despite objections that the settlement process was “unfair and unjust”.

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Piper Alderman free to oust senior female partner amid sex discrimination case
Business of Law 2019-05-24 4:22 pm By Amelia Birnie

The job of a senior Piper Alderman partner is in jeopardy after a court refused to extend an injunction preventing her from being ousted from the partnership while she battles a sex discrimination case against the firm.

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Class action applicant can’t bring ‘shambolic’ case over side deal with funder
Class Actions 2019-05-22 9:23 pm By Amelia Birnie

One of two lead applicants in the settled Arasor shareholder class action has been denied leave to be heard over its $1 million personal expenses dispute with litigation funder International Litigation Partners after missing a filing deadline, with a judge calling its handling of the case “shambolic”.

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Oaktree places Blue Sky into receivership amid class action threat
Restructuring & Insolvency 2019-05-20 11:05 pm By Cat Fredenburgh

US hedge fund Oaktree Capital has placed fund manager Blue Sky Alternative Investments into receivership, following a tumultuous period marked by the loss of senior executives and three shareholder class action investigations amid concerns about the company’s method for valuing its assets under management.

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Class actions still loom as ASIC drops probe into Blue Sky
Class Actions 2019-05-15 9:28 pm By Cat Fredenburgh

The Australian Securities and Investments Commission has dropped its probe into Blue Sky over possible violations of its continuous disclosure obligations, but the fund manager still faces three active shareholder class action investigations.

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Ex-Babcock & Brown execs dodge case over botched $1.4B acquisition
Corporate 2019-05-14 10:00 pm By Christine Caulfield

A court has dismissed a long-running case against defunct Babcock & Brown executives by a private investment fund over a botched $1.4B acquisition of the biggest laundry equipment provider in the US, saying the executives did not breach their duties by failing to disclose that the bank underwriting the deal allegedly wanted out.

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