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‘Worst of all possible worlds’: Judge rejects Blue Sky shareholder’s bid for novel split trial
Securities 2025-09-02 11:17 pm By Cindy Cameronne

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”.

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Class action gets hands on Phoslock docs produced in AFP probe of China operations
Class Actions 2025-09-02 11:32 pm By Christine Caulfield

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.

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Plus500 says class action must arbitrate claims over CFDs
Class Actions 2025-08-20 11:35 pm By Cindy Cameronne

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. 

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ASIC holds no ‘special position’ when it comes to indemnity costs for doomed cases: judge
ASIC 2025-08-14 11:50 pm By Christine Caulfield

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.

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High Court shoots down solicitors’ CFO in Blue Sky class action
Class Actions 2025-08-06 10:54 am By Cindy Cameronne

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. 

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‘News to me’: Judge slams HSF partner’s claim that subpoenaing witness not good practice
Insurance 2025-07-22 11:42 pm By Andy Sidler

A judge has slammed a Herbert Smith Freehills Kramer partner’s submission that it is not good practice to subpoena witnesses in complex litigation — saying this was “news to [her]” — and rejected client AMP’s bid to have a key witness testify from an Airbnb.

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Judge raises concerns Blue Sky shareholder class action ‘drifting’
Class Actions 2025-07-21 11:55 pm By Julia Kanapathippillai

A judge has expressed worries that a class action against EY and collapsed Blue Sky Alternative Investments is “drifting” amid concerns from the defendants about “indulgent” discovery and potentially “significant” pleading changes.

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KPMG hits back at Phoslock shareholder class action
Securities 2025-07-16 11:52 pm By Cindy Cameronne

Auditor KPMG has hit back at a shareholder class action over water treatment business Phoslock’s alleged accounting irregularities, saying it should be completely relieved from paying damages since it acted honestly. 

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ASIC should have known TerraCom case had no chance of success: judge
ASIC 2025-07-04 11:55 pm By Andy Sidler

A judge has said ASIC should have known that its case against four TerraCom directors over statements made to investors had no prospects of success, calling one of its submissions “unworthy of the corporations regulator”.

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Law firm drops competing Coles, Woolworths class actions over discounts
Class Actions 2025-06-30 11:18 pm By Christine Caulfield

One of two law firms running competing class actions against Coles and Woolworths over alleged illusory discounts has bowed out, leaving its rival to pursue the cases for consumers.

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