A proposed notice to eligible group members in Maurice Blackburn’s class action against AMP over its fees for no services scandal threatened to bar unregistered shareholders from any settlement stemming from mediation in the case, a threat barred by a recent ruling finding that courts have no power to close class actions to signed up group members, an appeals court has heard.
Logistics company GetSwift and its directors have failed in a bid for a year-long delay of a trial scheduled to start next month in ASIC’s case alleging breaches of the Corporations Act, despite arguing that the procedural unfairness of a remote hearing gave the regulator a leg-up over the US-based company.
A leading class actions lawyer from Maurice Blackburn “stumbled across” allegedly confidential information embedded in a Treasury Wine Estates’ shareholder presentation and used it in the law firm’s class action pleadings, a court has heard.
A contest of two competing shareholder class actions against Westpac over millions of alleged anti-money laundering breaches has ended with one law firm and its funder bowing out.
A judge has declined to put a Maurice Blackburn-led class action against AMP on hold while the High Court decides whether to overturn a ruling awarding the firm carriage of the matter following a high-stakes battle against three other law firms.
A closely watched shareholder class action against Myer over an inflated profit forecast from former CEO Bernie Brookes has been dropped, after a court found the retail giant misled shareholders but that they suffered no harm.
Treasury Wine Estates is facing the threat of multiple shareholder class actions in the US over a January 2020 profit downgrade that is already at the centre of two class actions filed in Australia.
A decision this week rejecting a proposed common fund order at the settlement approval stage of a class action against teleco Vocus has dashed the hopes of litigation funders that a recent High Court ruling would not foreclose on judges using discretion at the end of a case and will cement a return to bookbuilding and a focus on shareholder class actions by institutional investors.
A prominent silk deliberately misled a cost consultant retained to provide an opinion on the barrister’s fees to a court overseeing a class action over the collapse of Banksia Securities, then joked about it with lawyer and litigation funder Mark Elliott, a judge has been told.
A judge has declined to make a common fund order in approving a $35 million settlement in a shareholder class action against telecommunications firm Vocus Group, resulting in a reduced payout for the funders that backed the case.