Law firms running competing shareholder class actions against a2 Milk appear to have reached agreement to join forces, with a court order Thursday scrapping a contest to determine which case would proceed alone.
A judge has approved a 40 per cent group costs order for the law firm that’s running a class action against KPMG and former directors of collapsed mining company Arrium, the highest approved since the state began allowing lawyers to earn a cut of class action awards.
Deloitte and Noumi, formerly known as Freedom Foods, have pointed the finger at one another in a consolidated shareholder class action, with the accounting giant saying the food company made misleading representations in its financial reports and should be on the hook for its costs in defending the lawsuit.
The top brass of Sydney-based investment firm Curve Securities have been named in a racial discrimination lawsuit filed by a former employee.
The High Court has rejected a bid by shareholders of collapsed investment advisory firm Babcock & Brown for special leave to seek a re-trial of their cases alleging disclosure breaches because of the trial judge’s âexcessive” three-year delay in delivering judgment.
KPMG has again been targeted in a class action by shareholders of a defunct mining company, this time over allegedly misleading statements made by CuDeco ahead of a $63 million capital raising in 2016 and before the companyâs collapse in 2020.
A judge has approved a $155,000 settlement in a class action on behalf of investors in failed streaming platform Guvera which racked up $500,000 in legal fees, saying the case should never have been filed as a class action and didn’t advance group members’ interests “one iota”.
The directors of mortgage aggregator Connective Services have been hit with indemnity costs for their “outrageous conduct” in pursuing litigation against a company shareholder, including giving false statements and destroying evidence.
The Victorian Gambling and Casino Control Commission has commenced disciplinary proceedings against Crown Melbourne after a royal commission found the casino operator enabled the illegal transfer of funds from China.
Law firms accused of âfishing for a caseâ in a consolidated shareholder class action against Treasury Wine Estates have won access to key financial information in reports to the companyâs board, with a registrar finding the material was relevant to the case.