A shareholder class action against Medibank has claimed it did not disclose “serious deficiencies” in its cybersecurity measures, including failing to implement security measures such as multi factor authentication, causing investors to buy shares at inflated prices.
Australia’s largest private health insurer Medibank has been hit with a shareholder class action in the wake of a massive cyberattack that left the data of 10 million customers exposed.
A class action against Aveo Group has settled for $11 million mid trial, with the law firm that brought the case expressing regret for any “distress or anxiety” it caused and acknowledging the retirement village provider’s contracts with residents were lawful.
Two class action law firms have teamed up to investigate possible legal action against Latitude Financial over a cyberattack that resulted in the theft of 14 million customer records.
An appeals court has partially sided with Toyota in a challenge to the damages bill assessed by a judge in a class action over defective diesel filters, saying the reduction in value of affected cars should be assessed at 10 per cent, not 17.5 per cent, of the price paid by motorists.
A judge overseeing a competition class action against Queensland power companies Stanwell and CS Energy has warned that judges need to be inventive in how they manage large group proceedings, otherwise the “system will collapse”.
In a class action long delayed by a battle over foreign shareholders, BHP Group has finally filed a defence, denying it misled shareholders over a failed Brazilian dam and saying knowledge about the risk of collapse cannot be imputed to the Melbourne-headquartered energy giant.
A judge overseeing a $129 million underpayments class action against hospitality giant Merivale has rejected a bid for a second round of opt out notices, finding that even if the first round went straight to employees’ junk or spam folders, it did not follow that they had not been read.
Western Australia’s class action regime has come into effect, after the state became the fifth in Australia to allow representative proceedings last year.
An investor class action has reached a settlement with four former directors of defunct Linchpin Capital, leaving only allegations against AIG Insurance, which is allegedly seeking to withdraw an admission that directors were insured under a D&O policy.