A judge has signed off on a multi-million dollar settlement in a class action by retirees who claim they lost $27 million with the collapse of property lender Wickham Securities
Two high ranking analysts from S&P Global have distanced themselves from the decision making process at the heart of a class action over toxic financial products given healthy ratings by the agency ahead of the global financial crisis.
Global insurer Jardine Lloyd Thompson could be hit with a class action over allegations that local councils across Australia paid excessive premiums for its advice.
A former treasurer for Coffs Harbour City Council was “careless” for not analysing the financial products he invested millions of dollars of the city’s funds into, a lawyer for ANZ said last week at a class action trial against the bank and US ratings agency S&P Global.
Federal Court Justice Michael Lee has again weighed in on the use of cost consultants to assess legal fees in class actions, saying that they should be “consigned to the dustbin of procedural history.”
Blue Sky Alternative Investments has asked Australia’s corporate watchdog to investigate US hedge fund Glaucus for market manipulation, after a scathing report by the fund last week sent Blue Sky’s stock into a tailspin and raised the prospect of a shareholder lawsuit.
A Federal Court judge has questioned the independence of for-hire fee assessors in class actions, calling their opinions on legal costs “next to useless”.
Blue Sky Alternative Investments could be facing a class action after a report by a U.S. hedge fund that found the Australian fund manager had exaggerated its assets under management and the performance of its investments, while also collecting excessive management fees.
Slater and Gordon is mulling a class action on behalf of women who suffered complications after receiving a pelvic mesh implant, in the wake of a damning parliamentary report on the controversial devices.
A long-awaited congressional report has called for an overhaul of medical device regulation in Australia, in the wake of a system-wide failure to protect women who suffered “devastating” consequences after being implanted with faulty vaginal mesh products.