Investors in Mayfair Groupās collapsed IPO Wealth Fund stand to recoup āa lot lessā than their alleged $67 million in losses from a settlement in a class action alleging the fundās trustee misled the unit holders — but they will take home 75 per cent of the resolution sum, a court has heard.
Two law firms are set to work āhand in gloveā in their proposed consolidated shareholder class actions against a2 Milk, with one senior barrister to be dropped as part of the ārationalisationā of the combined team.
Ernst & Young has settled all claims against it in a shareholder class action alleging the Big Four accounting firm and Pitcher Partners signed off on an overly rosy year-end financial report that failed to disclose risks and impairments associated with the law firm’s disastrous $1.2 billion acquisition of UK insurance claims company Quindell.
Victoriaās Emergency Services Telecommunications Authority may be hit with a class action over alleged systemic failures in its ambulance call handling operations that may have led to at least 15 deaths.
A shareholder class action against Treasury Wine Estates has won access to information said to prove there were reduced wine sales in the United States, with a judge finding the wine producer’s redactions of board papers were ānot justifiedā.
A judge deciding one of the first ever applications by a law firm for a percentage cut of a class action will have to determine whether Victoria’s ground-breaking contingency fee legislation allows a group costs order to operate with a sliding percentage return.
a2 Milk is facing a shareholder class action in New Zealand on behalf of investors who allegedly suffered loss when the company’s share price plummeted on the heels of a revised outlook for the 2021 financial year amid challenges in the Chinese market.
A judge overseeing a beauty parade of two class actions against Beach Energy will hear competing bids for contingency fees by the plaintiffs’ firms before choosing which of them will have carriage of the case.
Law firms running competing shareholder class actions against a2 Milk appear to have reached agreement to join forces, with a court order Thursday scrapping a contest to determine which case would proceed alone.
Deloitte and Noumi, formerly known as Freedom Foods, have pointed the finger at one another in a consolidated shareholder class action, with the accounting giant saying the food company made misleading representations in its financial reports and should be on the hook for its costs in defending the lawsuit.