A judge has approved a $8.25 million settlement in a class action against PricewaterhouseCoopers brought by Axsesstoday bondholders over an allegedly misleading bond prospectus.
In submissions to the High Court, the applicant in a class action brought on behalf of Arrium shareholders against KMPG has attacked the Attorney-General’s argument that a contingency fee order is a neutral factor in assessing the accounting firm’s bid to move the case from Victoria.
A former EY partner and ousted board member at National Tiles has lost his $1 million claim alleging the company breached implied terms in a contract by requiring him to sign a “draconian, unreasonable and unacceptable” share agreement.
In the first-ever settlement approval hearing involving a group costs order, a contradictor has argued that Slater & Gordon should have provided the court with more information on legal costs and internal rate of return as part of its bid for a $12.8 million contingency fee.
ASIC has brought civil penalty proceedings against Chinese government-owned agri-business COFCO, alleging it manipulated the market for Eastern Australian wheat futures market contracts in 2022.
Four people have been charged with conspiracy to commit market rigging and false trading after an ASIC investigation into an alleged scheme organised on social media app Telegram to pump shares in Australian stocks and dump them at inflated prices.
The CFO of former market darling Big Un, who has been charged with insider trading, has been excused from filing a defence or taking other procedural steps in the collapsed company’s case against its ex-directors.
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.
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.