Slater & Gordon

Accounting firm Pitcher Partners gave faulty advice ahead of Slater & Gordon’s disastrous $1.2 billion Quindell acquisition that was responsible for $800 million in the business’ value “disappearing” within six months, a court heard on the first day of trial in a long-running class action by the law firm’s shareholders.

Western Power is not entitled to palm off the legal costs of defending a class action after an appeals court found it was negligent in causing the January 2014 Perth Hills bushfire which destroyed 57 homes, a court has said.

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. 

Star Entertainment Group is facing two possible shareholder class actions over alleged failures in the management of its anti-money laundering and counterterrorism financing risks.

Two class actions against Pitcher Partners and Arnold Bloch Leibler over advice given ahead of Slater & Gordon’s disastrous $1.2 billion Quindell acquisition will proceed to trial next month after mediation between the parties failed to resolve the cases.

Dairy company a2 Milk has denied liability to shareholders in a class action over its 2021 financial year guidance that preceded four earnings downgrades.

Slater & Gordon has filed a shareholder class action against the a2 Milk company over its 2021 financial year guidance, and four subsequent earnings downgrades.

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.