A Federal Court judge has allowed the plaintiffs in a class action alleging a unit of Westpac failed to detect the fraud of convicted Ponzi schemer Michael Samra to proceed with their claims against Samra’s defunct company.
Shine Lawyers has acquired boutique class action firm ACA lawyers, a deal that will create the second largest class action firm in Australia by caseload and position the firm to take advantage of an expected increase in shareholder class action work.
The litigation funder backing a class action against engineering company UGL over disclosures related to the ballooning costs of its Ichthys power project could pocket up to 30 percent of any settlement or judgment, according to a court order.
Macmahon Holdings has agreed to pay $6.7 million to settle a shareholder class action alleging the mining company failed to provide adequate disclosures about the impact delays on a project for Rio Tinto in the Pilbara would have on its profitability.
BHP and Vale SA have reportedly reached an agreement with Brazilian prosecutors to compensate victims of the Fundao dam collapse at the companies’ Samarco mine three years ago.
A settlement offer promising swift payment that was sent to class members in a lawsuit against Powercor Australia over the 2018 St Patrick’s Day bushfires in Victoria was misleading, a judge has found.
Investment manager Blue Sky, which is currently facing three shareholder class action investigations, has admitted to incorrectly charging $4.1 million in fees to certain funds over a ten-year period.
Shareholders in a class action against Sirtex have secured an order forcing the life sciences company to notify them of any plan that would see its $128 million in liquid assets drop below $80 million.
The funder underwriting a class action against Westpac will take a 25 percent cut of the net — not gross — recovery sum to secure a judge’s approval of a common fund order in the case.
A judge has rejected an application by biotech company Sirtex Medical to limit a class action to shareholders who register as group members in the next month, saying a class-closure order could dramatically cut down on the size of the class.