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Online trading platform Plus500 is challenging a court ruling that investors who lost money on highly leveraged contracts for difference can proceed with their class action despite signing arbitration clauses.
A law firm partner working on a shareholder class action over the collapse of Blue Sky Alternative Investments has faced cross-examination by counsel for auditor EY over alleged delays in seeking to amend the case.
Construction PRO
A judge has called the conduct of the director of property group Vantager “breathtaking” in its “brazen dishonesty” after he misappropriated $33 million from a $45 million property sale with the help from his accountant.
Plus500 has lost its bid to permanently stay a class action by investors who lost money trading in highly leveraged financial products, with a court finding that the arbitration clause relied on by the online trader was unfair and void.
The administrators of struggling regional airline Rex have entered into a sale agreement with NASDAQ-listed aviation holding company Air T, with the federal government stepping in to facilitate the sale.
The shareholder leading a class action against failed fund manager Blue Sky Alternative Investments has lost a bid for a split trial it accepted was novel, despite arguing the usual course for trials in securities cases was "misconceived".
Phoslock Environmental Technologies, which has produced hundreds of thousands of documents to federal police as part of an investigation of the company's China operations, must hand over the bundle to a class action.
Online trader Plus500 is seeking to stay a class action on behalf of investors who lost money trading in highly leveraged financial products, telling a court the applicant signed an agreement forcing the dispute into arbitration.
The corporate regulator should not be immune from the risk of special costs for actions doomed to fail, says a judge who flayed ASIC last month for bringing a case against TerraCom directors it should have known was a dud.
The High Court has unanimously found the Federal Court has no power to allow solicitors to take a cut of a settlement or judgment in a shareholder class action against Blue Sky, saying it would be contrary to rules against contingency fees in NSW.