Worley’s increases to a budget behind an allegedly misleading 2014 earning guidance, amounting to $1.14 million, were a “drop in the ocean”, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.
Worley crafted the budget behind an allegedly misleading 2014 earnings guidance so that its shares could be rated as a “growth stock”, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.
The lead applicant in a settled shareholder class action against technology company Arasor can’t dodge funder International Litigation Partners’ costs, which it was ordered to pay after a judge rejected its “shambolic” attempts to be heard over a $1.2 million personal expenses dispute with the funder.
A judge has allowed a new applicant to lead a shareholder class action against recycling company Sims Metal Management, ruling that he could not force the original applicant to continue in the role when it wanted to back out.
The applicant in a class action on behalf of hundreds of thousands of Colonial First State Investments customers has raised concerns about whether he can recover compensation from a CBA life insurance unit that was recently sold to a competitor.
Multinational health technology company Philips may be hit with a class action after its sleep therapy machines were subject to an urgent safety recall over concerns customers could inhale degrading foam.
A court has ruled that labour hire firm CoreStaff cannot rely on its professional indemnity insurance to cover judgment against it in an employment class action alleging itmisled workers who relocated from Papua New Guinea to Australia for work.
Controversial legislation advanced by the Morrison government that will weaken the country’s continuous disclosure laws and make it harder to bring shareholder class actions has cleared the Senate.
The Federal Court has given the greenlight to a $30 million settlement in Shine Lawyers’ insurance class action against Westpac and will allow post-settlement registration notices to be sent to group members.
The former senior counsel in a settled insurance class action against Westpac has had his fees reduced by $70,000 after the Federal Court heard some of the work for which he charged was not done in the interests of group members.