Aussie Broadband is seeking to set aside a notice from the board of internet service provider Superloop directing it to sell down its 19.9 shareholding in the company, arguing the sell order was made for an improper purpose amid a “contested takeover battle” between the companies.
Blue Sky’s founder and former managing director Mark Sowerby has won orders requiring a director of US hedge fund Glaucus to produce documents relating to claims the short-seller shared information with market participants before releasing a report which sent Blue Sky’s shares into a tailspin.
A shareholder class action against livestock exporter Wellard is seeking approval for a $23 million settlement which will see only $7.86 million go to group members, telling the court that the funder and law firm that ran the case have agreed to take a haircut on the deductions they’re entitled to.
Defunct investment firm Blue Sky has denied a class action’s claims that it misled shareholders ahead of its 2019 collapse and has pointed the finger at auditor EY.
Despite succeeding on a number of claims, the applicant in a tortuous shareholder class action against Worley must foot the engineering services company’s bill for defending two trials.
ASX Limited has paid a $1,050,000 fine after the corporate regulator pinged it with an infringement notice for failing to comply with market integrity rules — a first against the market operator.
Downer EDI has named KPMG in a cross-claim in a class action by shareholders, a move the accounting giant says has forced it to resign as auditor for the infrastructure services company.
The law firm behind a class action against Insurance Australia Group has secured a group costs order that will give it 30 per cent of any proceeds — a contingency fee rate six percentage points higher than the median rate for shareholder cases.
Slater & Gordon is seeking summary dismissal of a case brought by a shareholder over the plaintiff firm’s takeover by private equity firm Allegro, saying it is not the right target for the claims.
Noumi has argued a PricewaterhouseCoopers report commissioned by its lawyers at Ashurst is protected by legal professional privilege, after the food manufacturer admitted to overstating the value of its inventory and failing to properly disclose its financial position.