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The number of new class actions so far this year has fallen short of recent years, and not a single shareholder proceeding has been lodged in 2024 to date, according to a new report.
Noumi has agreed to pay a $5 million penalty for violating its continuous disclosure obligations in a case brought by the corporate regulator, but the applicant in a shareholder class action against the food company says the sum should be reserved to compensate group members.
A shareholder class action against BHP has sought more time to finalise its pleadings ahead of trial, after a judge threw out two class actions against the Commonwealth Bank that also alleged continuous disclosure breaches.
A judge has questioned the law firm running a class action against medical glove maker Ansell on its application for a contingency fee rate of 40 per cent, which would equal the highest rate granted since Victoria allowed firms to earn a percentage profit of a group proceeding.
A law firm partner who alleges a Melbourne solicitor failed to properly advise him on a share sale agreement with Slater & Gordon in 2014 declined assistance before signing a term sheet that outlined he could not sell his shares in the firm for three years, a court has heard.
A shareholder has filed an application for preliminary discovery against KMPG and water treatment company Phoslock as she weighs a possible class action over the company's past fraud and mismanagement.
The Federal Court is set to become a more attractive forum for class actions now that the Full Court has confirmed it has power to make orders granting solicitors a contingency fee from any settlement or judgment in a group proceeding.
Lawyers are allowed to take a cut from a class action settlement or judgment under a so-called solicitors’ common fund order, the Full Federal Court has ruled, saying they are a permissive use of the court’s power.
Generic drug maker Mayne Pharma has resolved a shareholder class action centred on disclosures connected to price-fixing claims by US regulators.
A class action on behalf of Axsesstoday bondholders has reached a settlement with accountants PricewaterhouseCoopers, with a court hearing that group members will get almost 50 per cent of the proceeds.