Melbourne-based fintech ISignthis and its directors are facing a possible shareholder class action over a December profit downgrade.
The Australian Securities and Investments Commission has suspended the Australian Financial Services licence of a Sydney-based financial services provider that ran a property investment scheme targeting retirees, which the regulator has accused of issuing ‘defective’ product disclosure statements.
Crown Resorts has successfully challenged a ruling allowing law firm Maurice Blackburn to communicate with 18 formerly jailed employees to gather evidence in its shareholder class action against the casino giant.
Shareholders of collapsed music streaming platform Guvera have filed a class action against an accounting firm seeking to recoup their losses for the firm’s alleged negligence in promoting an investment opportunity in the failed tech company.
Unfunded group members in two shareholder class actions against online fashion retailer Surfstitch have been told they are likely better off to opt out of a settlement if a judge approves $6 million in fees and a 30 per cent commission sought by the law firms and funder that brought the cases.
The lead plaintiffs in two shareholder class actions against Dick Smith can amend their case against accounting firm Deloitte, less than two months before a mammoth hearing is set to commence.
Companies and other defendants forked over big sums last year to settle more than 20 class actions, with a total of at least $734 million being paid out. Here are the top 10 class action settlements and the law firms and funders that negotiated them.
Vocus Group has agreed to settle a shareholder class action over a 2017 profit downgrade, with its insurers footing most of the bill to resolve the proceedings.
Contact details of shareholders provided by GetSwift to the firm running a class action should not be used to recruit group members now that the common fund order in the case has been quashed, the logistics company has told a court.
A self-imposed cap on legal fees and a reduced funding cut of a $16.5 million settlement in a class action against failed construction company Forge Group was the right call by the law firm and the funder behind the case, a judge has said in his reasons for approving the deal.