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.
Hair loss treatment company Advangen International has been ordered to fork over $940,000 to advertising agency Ikon Communications after refusing to pay for an ad campaign it claimed was a flop.
An education provider calling itself Trinity College Australia faces a lawsuit alleging it is duping consumers by trying to pass off as The University of Melbourne’s famed residential college.
The managing director of litigation funder Vannin Capital lost a battle to dismiss a cross claim brought against him by rival LCM in a case alleging LCM has misapplied funds in its trust.
The battle over competing shareholder class actions against failed sandalwood oil producer Quintis is heating up, with law firm Gadens launching a bid to shut down the case brought by Bannister Law, attacking its rival’s experience and resources.
A $3 million settlement in the shareholder class action against the directors of failed mining company Kagara has been approved, with a Federal Court judge saying the amount is fair and reasonable despite two-thirds of it going to the lawyers and funder that brought the case.
Eight former directors of failed mining company Kagara have settled a shareholder class action alleging they misled investors and falsified the company’s accounting records, the Federal Court heard Friday.
MinterEllison has resolved claims by two directors of failed Solar Shop Australia alleging the law firm, which was retained by the company to advise on a buyback scheme involving $15 million in shares owned by founder Adrian Ferraretto, breached its duty of care.
Multiple class actions against troubled sandalwood oil producer Quintis will soon compete to stay alive after a court heard Tuesday the company would bring an application to stay or consolidate the cases.