Fleet management company FleetPartners has been stung with a shareholder class action over a revised 2019 earnings guidance that doomed its planned merger with McMillan Shakespeare.
BHP has won its argument that shareholders who did not purchase their stock while trading on one of the three exchanges on which the mining giant is listed are excluded from a securities class action over the collapse of a Brazil tailings dam.
The government is seeking submissions for a review of widely criticised Morrison-era reforms that weakened continuous disclosure obligations, but the review may be hampered by the lack of case studies from the courts.
A judge has signed off on a $18.5 million settlement in a six-year-old shareholder class action against Deloitte over its audits of collapsed construction group Hastie, saying the amount might be “disappointing” to group members but reflected the risks of going to trial.
BHP has argued that investors who bought shares through secondary platforms are excluded from a long-running shareholder class action over a failed Brazilian dam, a claim slammed as an “unduly narrow reading” of the case.
A judge has found that ANZ breached continuous disclosure rules by failing to disclose a $750 million bailout by underwriters Deutsche Bank, Citigroup and JP Morgan during its $2.5 billion equity capital raising in August 2015.
A judge who signed off on a settlement in a class action against the government by sovereign bondholders over the disclosure of climate risks said proving climate change posed a risk to government coffers may not be as difficult as the government has claimed.
Maurice Blackburn will seek $26 million in costs from a $110 million settlement in a long-running class action against AMP over its fees-for-no-service conduct, leaving more than three-quarters of the settlement to be distributed to group members.
The ASX-listed Shine Lawyers has earned marks for improvement in a review by ASIC of its disclosures relating to interest on litigation funding loans, the corporate regulator said Thursday.
Two law firms that were able to “work cooperatively” to join their cases have been awarded carriage of a shareholder class action against mining firm Downer EDI. The judge overseeing the proceedings also approved a group costs order application that proposed a “reasonable rate” of return to the firms.