A settlement has been reached in two class actions brought on behalf of holders of debentures who allege they suffered losses due to Australian Executor Trustees’ mismanagement of debenture issuer Provident Capital.
The naming of Squire Patton Boggs as a concurrent wrongdoer in GetSwiftâs defence puts the law firm in an âimpossible position of conflict of interestâ if it wins a challenge to an order staying its class action against the company, the Full Federal Court has been told ahead of a highly anticipated appeal hearing that promises to pull no punches.
A judge has denied ASIC’s bid to appoint an interim receiver to preserve the assets of three financial services companies that advised clients to invest in complex derivatives, which ASIC is seeking to have wound up for alleged violations of the Corporations Act.
Embattled financial giant AMP has moved to regain customer trust, allocating $290 million to compensate customers going back 10 years, the company told shareholders Friday.
Investors in a class action against failed online retailer Surfstitch Group won access Thursday to transcripts of interviews of former boss Justin Cameron by the corporate watchdog.
The amicus hired to assess the funder’s cut of a potentially record settlement in several class actions against S&P Global over toxic financial products has told the judge that if he’s considering approving a funding equalisation order, he should âstart with a blank piece of paperâ in calculating a reasonable funder’s commission.
The former CEO of organic baby food producer Bellamy’s Australia has lost a legal battle over $1.2 million in options she claimed she was owed as part of a long-term financial incentives scheme.
Johnson Winter & Slattery has been pulled into a class action against failed educational training company Vocation and its auditor PricewaterhouseCoopers, with the auditor saying the firmâs advice to Vocation constituted misleading and deceptive conduct.
MinterEllison has resolved claims by two directors of failed Solar Shop Australia alleging the law firm, which was retained by the company to advise on a buyback scheme involving $15 million in shares owned by founder Adrian Ferraretto, breached its duty of care.
The litigation funder underwriting a shareholder class action against BHP Billiton over the company’s Brazilian mine disaster is a corporation created by two major US plaintiffs’ firms with the sole purpose of backing the Australian case.