Virgin Australia is facing a shareholder class action investigation over representations made in a 2019 prospectus for a capital raising to fund its $700 million acquisition of the Velocity loyalty program, issued six months before the airline filed for administration.
An appeals court challenge by a group of small businesses seeking coverage under business interruption insurance policies for losses flowing from COVID-19 restrictions has largely failed.
BHP Group has been granted special leave from the High Court to appeal a ruling that rejected its bid to exclude foreign investors from a shareholder class action over the 2015 Fundao dam disaster.
The funder that was bankrolling a class action alleging pharmacy giant Priceline exercised an “overly prescriptive level of control” on franchisees which limited their profitability has withdrawn its support for the proceeding.
A new funder is backing a shareholder class action that will be brought against Australian regenerative medicine company Mesoblast over disclosures related to its Remestemcel-L treatment for COVID-19 complications.
The law firm behind a consumer class action against Suncorp subsidiary AAI over add-on car insurance says notices to group members should not be sent until the case is ready for trial and the “information asymmetry” is corrected.
The Australian Securities and Investments Commission has lost an interim injunction bid against the director of investment firm Mayfair 101 in its case seeking a contempt finding, despite arguing there was a substantial risk of harm to consumers.
Franchisees of the Hog’s Breath Cafe restaurant chain are challenging a ruling that they hand over $1.23 million in security for the defence costs of the franchisor in their class action.
The federal government has lost a bid to submit additional evidence ahead of an upcoming damages trial in a class action brought on behalf of 200 Navy marine technicians over a breached training contract.
A settlement in a shareholder class action against GetSwift has collapsed as the logistics company seeks to secure financing to keep it afloat and pay the final portion of the deal’s $1.5 million cash component.