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Mesoblast reaches settlement in class action over COVID-19 treatment
Class Actions 2024-09-09 12:57 pm By Cindy Cameronne

Mesoblast has agreed to settle a shareholder class action centred on statements to the market about its Remestemcel-L treatment, resolving claims it misrepresented the efficacy of the therapy for COVID-19 patients.

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Domino’s hit with shareholder class action
Class Actions 2024-09-06 9:47 pm By Cat Fredenburgh

Domino’s has been stung with shareholder class action accusing the pizza giant of misleading the market about its expected performance in Japan. 

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Claims in $40M class action against Whitehaven Coal ‘fanciful’, court told
Class Actions 2024-09-04 11:44 pm By Cindy Cameronne

Whitehaven Coal has struck back at a class action led by the father of famed mining investor Nathan Tinkler, calling the claims that it failed to fulfil an implied term of a $150 million share subscription from 2012 “fanciful”.

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Sleeping Duck shareholder rejected $4M settlement in failed oppression suit
Securities 2024-09-04 11:32 pm By Andy Sidler

A Sleeping Duck shareholder has been ordered to pay the company’s costs on an indemnity basis in its failed oppression suit, with a judge finding that its decisions to reject Sleeping Duck’s buy-out offers of roughly $4 million were unreasonable.

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Whitehaven Coal shareholders ‘trapped’ after 2012 acquisition, class action trial told
Trials 2024-09-03 11:45 pm By Cindy Cameronne

Shareholders in Whitehaven Coal who helped inject $150 million of capital during a 2012 merger are “trapped” after the ASX-listed coal producer failed to abide by its side of the deal, a class action funded by mining investor Nathan Tinkler has alleged on the first day of trial.

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Former EY partner hit with indemnity costs for rejecting National Tiles settlement offer
Securities 2024-08-30 11:44 pm By Cindy Cameronne

A former EY partner and ousted board member at National Tiles has been ordered to pay indemnity costs after he lost a $1 million share dispute with the flooring company, with a judge finding he “unreasonably failed” to accept a settlement offer. 

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Contingency fee rates may rise in wake of Slater & Gordon win
Analysis 2024-08-29 11:49 pm By Christine Caulfield

A ruling this week that kept intact a contingency fee rate of 27.5 per cent sought by Slater & Gordon to run a shareholder class action against G8 Education might encourage law firms to seek higher percentage payouts at the outset of group proceedings in Victoria.

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Class action firms can breathe easier after first contingency fee win
Class Actions 2024-08-28 1:59 pm By Cindy Cameronne

Class action settlement approval hearings are not a time for the court to second guess a law firm’s contingency fee as set down in a group costs order, a judge has found, but the question of proportionality is still key, and evidence of a firm’s return on investment and hourly fees may be relevant to the final decision.

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$12.8M payday for Slater & Gordon as judge blesses first class action contingency fee
Class Actions 2024-08-28 11:02 am By Cindy Cameronne

A judge has signed off on the first-ever settlement allowing a law firm to earn a contingency fee, approving a $12.8 million cut for Slater & Gordon in a shareholder class action against G8 Education.

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IAG’s risk assessment of COVID claims under microscope in shareholder class action
Class Actions 2024-08-27 11:39 pm By Andy Sidler

A judge has granted broad discovery to a shareholder class action against IAG over COVID-related disclosures, saying the documents sought were relevant to determining the likelihood the insurer knew of the risk that it would have to pay out business interruption claims covered by polices that referenced defunct legislation.

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