A judge has signed off on a settlement in two shareholder class actions against clothing retailer Surfstitch, but has capped the legal costs and commissions sought by the litigation funders after finding the law firms behind the cases sent out notices to group members that were “misleading” and “understated” the risks of joining the class.
Two insurance brokers have dodged being dragged into class action proceedings against sandalwood producer Quintis to boost a settlement reached last year, as a fight over insurance owed to the company to cover the settlement continues.
Further attempts to settle a securities class action against last mile logistics software firm GetSwift would be like flogging a dead horse, a judge has heard as the matter works its way towards a final hearing.
The Morrison government will reportedly make permanent changes to the continuous disclosure laws that were introduced at the height of the COVID-19 pandemic, as part of a wider effort to crack down on class action litigation.
PricewaterhouseCoopers is looking to shut down a class action by irate bondholders of collapsed asset finance lender Axsesstoday Limited over alleged misrepresentations in a $50 million bond offer.
A $37.75 million settlement has been reached in a shareholder class action against Estia Health that accused the aged care provider of failing to disclose difficulties in its 2015 and 2016 acquisition strategy.
GetSwift has been criticised for its “quite unfair attack” on a Federal Court judge who refused to disqualify himself from hearing a shareholder class action against the logistics software company after presiding over ASIC’s civil penalty proceeding against the company.
A judge has raised questions about an estimated $13.6 million in legal costs to be sought in an upcoming approval hearing on a $44.5 million settlement reached in a shareholder class action against Woolworths.
Two shareholders of failed Arrium Group have secured leave from the High Court to challenge a ruling that nixed their planned examination of a former director to bolster a class action over the collapse of the steel producer.
Two directors of Crown Resorts have resigned following the release of a damning report from the NSW gaming authority.