A judge has given the green light to expanded misconduct allegations in a shareholder class action against IOOF, including claims of insider trading and front-running.
Johnson & Johnson unit Ethicon will now be on the hook for damages to 11,000 women implanted with defective pelvic mesh devices, after the High Court declined to hear its appeal of a ruling that found it failed to adequately warn about the devices’ risks.
Shine Lawyers is seeking court permission to use a list of employees provided by collapsed telecommunications contractor Tandem in a stayed class action to assist group members with making claims and recovering losses in the company’s liquidation.
Legislation capping litigation funder returns in class actions to 30 per cent and requiring group members to sign up to funding schemes has been introduced to federal parliament despite widespread criticism.
Australia’s largest onshore oil producer, Beach Energy, is facing a second shareholder class action investigation into whether it misled the market with its projected earnings from oil reserves on the Western Flank in South Australia.
The a2 Milk Company is facing the prospect of a second shareholder class action over its 2021 financial guidance and subsequent downgrades following Slater & Gordon’s case earlier this month.
AMP and a number of its financial planning subsidiaries could face 1.2 million individual claims if they win a bid to declass a group proceeding over allegedly excessive insurance premiums, a judge has said.
Carnival has launched a challenge to last month’s court finding that overseas passengers could remain group members in a class action over the 2020 Ruby Princess COVID-19 outbreak.
A judge has told a Colonial First State Investments unit to provide information about its financial position to the lead applicant in a class action and criticised the company for failing to disclose that it had transferred its liabilities after the class action was launched.
Law firms have railed against proposed legislation to ensure group members receive 70 per cent of any recoveries from class actions, saying the reforms were designed to “cripple” group proceedings.