Failed sandalwood oil producer Quintis has agreed to hand over insurance policies showing any coverage for potential liability it or its former CEO may have in two class actions brought against them.
The Australian Securities and Investments Commission is pushing back against an application by ANZ Bank to stay the regulator’s civil penalties case over disclosures related to a $2.5 billion equity capital raising while it defends against criminal charges related to the controversial share placement.
Publicly-traded law firm Shine Lawyers has reached a confidential agreement to settle a class action alleging it misled shareholders about the value of ongoing business activities, the first ever settlement of a class action in Queensland.
In a win for the corporate watchdog, a court has found collapsed education provider Vocation engaged in misleading and deceptive conduct and breached its continuous disclosure obligations by failing to inform shareholders of problems with a large government contract.
Piper Alderman has urged a judge to excuse its “obviously accidental” breach of legal profession costs regulations in its Discovery Metals investor class action against KPMG, warning that group members could suffer detriment if its $3.5 million legal bill was not approved quickly.
The applicants in the Iluka Resources shareholder class action have been given a two month extension to provide a $1.25 million security for costs, after they managed to secure an in-principle deal with a new litigation funder.
The law firm running a shareholder class action against GetSwift confirmed it was looking at the events surrounding Tuesday’s trading halt by the Australian Stock Exchange but would not be amending its ongoing case against the logistics company in light of it.
A Federal Court judge has ruled he has jurisdication to hear a case brought by a group of investors against a unit of Credit Suisse over complex derivative products known as MINI warrants, despite the bank’s argument that the claims allege breach of contract under common law, not federal law.
Maurice Blackburn has partly prevailed in an appeal of a judge’s decision to put the brakes on its shareholder class action against BHP while greenlighting a competing case brought by Phi Finney McDonald, with an appeals court ordering the rival law firms to negotiate a deal to consolidate their litigation.
Maurice Blackburn’s funding model rejected by a judge overseeing a beauty parade of class actions against BHP appeared structured to incentivise the firm to push up its legal fees, an appeals court said Monday on the first day of a high stakes hearing challenging a decision to shut down two of three competing cases against the mining giant.