Allianz and a number of other insurers of Dick Smith are now facing a class action over the extent of coverage under an insurance policy for the collapsed electronics retailer’s initial public offering.
Noting the “significant and beneficial reduction” in recent funding rates, the judge overseeing a shareholder class action against recycling company Sims Metal Management has signed off on an order capping the commission of the funders at 25 per cent of any net proceeds and setting a minimum 50 per cent of any recovery for group members.
A Federal Court judge has appointed a costs referee in a shareholder class action against two units of dairy co-op Murray Goulburn over a 2016 profit forecast revision which recently settled for $42 million.
Boutique class actions law firm Phi Finney McDonald has won its bid to reserve costs incurred before its case was permanently stayed in the AMP shareholder class action beauty contest, after the firm racked up at least 1,345 hours in âsunk costsâ.
Two law firms are jointly investigating a potential class action against the NRL on behalf of players for alleged liability for “reasonably preventable brain injuries”.
Westpac unit BankSA has reached an agreement to settle a class action alleging it failed to detect the fraud of convicted Ponzi schemer Michael Samra.
A judge overseeing competing consumer class actions against AMP over superannuation fees said he would be “reluctant” to hold a contest between the two cases, as the applicants in the rival proceedings tell the court they are in talks about possible consolidation.
The former CEO and director of biotech company Sirtex Medical, Gilman Wong, is facing a maximum ten years in prison after pleading guilty to insider trading.
Medical device manufacturer American Medical Systems has reasserted that it cannot face claims under Australian consumer laws over its allegedly defective vaginal mesh products because it only supplied the products to a US subsidiary.
A unit of Suncorp Group has been hit with a class action over superannuation fees and charges, the eighth banking royal commission-related class action filed thus far.