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Majority shareholders in MWL Financial have won court approval to bring a derivative suit against US-based Focus Financial Partners over an acquisition gone sour.
In a situation a judge has called "extraordinary and troubling", Deloitte's files on failed construction company Hastie -- sought as evidence by shareholders in a class action -- have vanished from the accounting giant's locked 'litigation room' and are now in the control of a single partner who refuses to return them.
A multi-million dollar settlement has been reached in a shareholder class action against private training company Ashley Services over its $67 million tumble two years ago.
The law firms that challenged a ruling staying their cases against GetSwift gave the Full Federal Court a chance to guide judges managing competing class actions, but they can't avoid paying their opponents' legal costs because the court happened to seize the opportunity.
A judge has chosen a winner in a battle of law firms vying to run a massive shareholder class action against BHP over the fatal collapse of a dam at its Brazilian mine, saying the funding arrangement behind the successful case would best serve class members.
Three former executives of failed Gold Coast finance company MFS Group have lost their challenge to a ruling that they misappropriated $147.5 million in funds prior to the company's collapse.
A judge looked dimly Monday on a pitch by baby food maker Bellamy's to limit to $4.5 million the costs incurred by the law firms leading joint class actions against the company, saying the request was "very ambitious".
Law firm Squire Patton Boggs is taking a fight over a ruling that shut down its shareholder class action against logistics startup GetSwift to the High Court.
Law firm Johnson Winter & Slattery has filed its defence against a cross claim by accounting giant PricewaterhouseCoopers in a shareholder class action over the collapse of Vocation, pointing to an email that shows the training company was advised of its disclosure obligations to the market.
The Australian Securities & Investments Commission has largely prevailed on appeal to the High Court in its case against former directors of collapsed retirement village owner Prime Trust, including former federal health minister Michael Wooldridge.