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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.
ANZ Bank executives briefly considered relaunching and repricing a botched $2.5 billion equity capital raising at the heart of two groundbreaking enforcement actions, and the decision by the share placement's underwriters to instead pick up a $790 million shortfall deprived investors of lower priced shares, a court has been told.
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.
A judge who entertained an anti-suit injunction in the AMP class action jurisdictional battle that set off what another judge called an "unseemly debacle" has ordered the applicant behind the injunction bid to pay costs.
Sirtex has been ordered to turn over information related to a possible acquisition to law firm Maurice Blackburn, which is leading a shareholder class action against the life sciences company.
A settlement has been reached in a class action against KPMG alleging it providing a misleading expert report to copper miner Discovery Metals that was used to reject a $830 million hostile takeover bid.
The Full Court has denied a bid by Deep Investments to vary orders dismissing its case against a solicitor and six others over $10 million in alleged share trading losses, saying this would amount to allowing the investment adviser to bring a different claim.
Trader Daniel Schlaepfer and his firm Select Vantage are seeking over $10 million in damages from the Australian Securities and Investments Commission in a defamation action against the corporate regulator, a court heard Thursday on the fourth day of trial in the case.