Failed neobank Volt is facing an investor class action investigation over representations made in a series of funding rounds that raised $219 million before announcing last week that it would shut its doors.
A judge has signed off on a $4.7 million settlement in two investor class actions against collapsed sandalwood producer Quintis, two year after an earlier settlement was scuttled as group members kicked off an insurance dispute in pursuit of a better return.
A litigation funder has reaped $7.5 million from the sale of a 20 per cent stake in a shareholder class action against the Commonwealth Bank of Australia over the bank’s allegedly lax money laundering compliance.
Virgin Australia has been ordered to disclose whether its insurer has agreed to indemnify it for any liability it may have in a shareholder class action over a prospectus for a $324 million capital raising just months before it filed for administration.
The former boss of embattled tech company Nuix is asking for “special treatment” by arguing he is owed $183 million in options under a 2008 agreement, a judge has heard on the first day of trial in the ex-CEO’s case.
A judge has pulled up a law firm over a tweet it published about defamation proceedings brought by investor Tolga Kumova, telling a barrister during the trial Thursday to counsel his instructing solicitors about the “highly unsatisfactory” social media post.
Former Young Rich Lister Tolga Kumova has admitted to publishing an inaccurate tweet about the value of a mineral resource owned by a zinc producer of which he was a director, agreeing at trial in his defamation case that he was off by $4.8 billion.
Keybridge Capital has sued WAM Active seeking declarations that a meeting of shareholders in the Wilson Asset Management subsidiary was validly held and a resolution appointing Keybridge’s Nicholas Bolton to its board was passed and effective.
A victor remains to be crowned following a heated beauty parade between competing class actions against tech company Nuix, with two law firms facing criticism for their “cumbrous” consolidation proposal and a third firm copping flak for its “opaque” financials.
Two years after an insurance dispute scuttled a proposed settlement, group members in two class actions against sandalwood producer Quintis are set to receive $4.7 million in a settlement with the defunct company.