Accounting giant Deloitte has failed in its bid to strike out claims made in two shareholder class actions alleging it was careless in auditing the financial statements of electronics retailer Dick Smith ahead of its collapse in 2016.
Insurance Australia Limited is facing a class action alleging it engaged in misleading and deceptive conduct by pushing worthless add-on insurance onto individuals purchasing motor vehicles through authorised dealers.
By putting its name on allegedly defective vaginal mesh implants, American Medical Systems held itself out as the manufacture of those devices, according to an amended class action pleading that addresses the medical device maker’s assertion that a subsidiary made the devices after May 2012.
Funding for a shareholder class action against mineral sands company Iluka Resources is in doubt after Harbour Litigation Funding unilaterally backed out of an agreement to finance the litigation.
A judge has rejected a bid by former directors of Slater & Gordon to throw out cross claims brought by Pitcher Partners in two shareholder class actions alleging the accounting firm wrongly signed off on the law firm’s financial reports ahead of a share price nosedive, saying it was possible Pitcher Partners’ claimed reliance on representations by the directors was reasonable.
A judge has scheduled a two-day hearing to hear a dispute between investment group Caason Investments, a lead applicant in a shareholder class action against defunct laser technology company Arasor that settled last year for $19.25 million, and Singapore-based litigation funder International Litigation Partners over personal costs allegedly owed to the investment group under a “secret” side agreement.
Litigation funder Litigation Capital Management will snap up 30 percent of a confidential settlement amount that KPMG has fought to keep under wraps in a shareholder class action over a failed $830 million hostile takeover bid of mining firm Discovery Metals.
A judge has refused an application by horse vaccine maker Zoetis for $450,000 as security for costs in an unfunded class action alleging misleading claims by the pharmaceutical company, saying while he had the power to make the order sought, the “principled exercise” of his discretion was to reject the bid.
A judge has agreed to postpone a trial against logistics provider GetSwift until next year when a class action and a lawsuit by the Australian Securities and Investments Commission related to the company’s disclosures will be heard consecutively rather than concurrently.
Maurice Blackburn is investigating a possible shareholder class action against construction company Lendlease over allegedly inadequate disclosures relating to its engineering and services business, which includes the NorthConnex tunnel road project in Sydney.