The lead applicant in a shareholder class action against Dreamworld owner Ardent Leisure over a 2016 tragedy in which four people died following a ride malfunction is seeking access to the company’s insurance documents, amid fears the theme park operator lacks assets to meet the estimated $310 million lawsuit.
The lead applicant in a securities class action against the directors and auditors of laser technology firm Arasor has been hit with costs for its “completely unsatisfactory” conduct in its failed pursuit of over $508,000 in legal costs spent in disputes with the ATO and funder International Litigation Partners.
Business lobby association Ai Group is calling on federal crossbench senators to oppose a move by Labor to block litigation funding rules introduced by the Morrison government aimed at curbing class actions.
The son of controversial class action lawyer Mark Elliott has hired a big gun barrister to represent him in the Banksia class action proceedings and will be asking the judge overseeing the case against him to step aside.
Construction giant Boral must now contend with three class actions by shareholders alleging it failed to disclose financial problems with its US windows business, but the cases will stay on ice pending a High Court challenge.
Eight law firms made it to the courthouse door just under the wire last week, filing class actions on the eve of regulations that will require funders to register their class actions as managed investment schemes.
A court has given the green light for opt out and registration notices to be sent to group members in a shareholder class action against AMP, despite objections by the lead plaintiff in a competing class action.
A $65 million sham contracting class action against fundraising company Appco has settled for just $1.9 million, leaving the company’s allegedly underpaid army of sales staff with “limited” recoveries of between $770 and $2,320.
Insurer QBE wants to downsize a massive class action brought against it and banking giant ANZ over the sale of allegedly worthless add on insurance.
Just four months after paying $32 million to settle a shareholder class action over disclosures relating to allegations of foreign bribery, engineering services company CIMIC faces another class action, this one alleging failures to keep the market informed about issues with its Middle East operations.