Amelia Smith

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. 

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.

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.

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. 

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”.

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.

ASIC has told a court that a PwC report into allegations of inaccurate coal pricing found that 12 “inconsistent” invoices issued by TerraCom resulted in a $1.15 million benefit to the company, contrary to the company's claim that the audit found no wrongdoing.

Penalty proceedings in ASIC's case against coal producer TerraCom have been put on ice until the regulator’s suit against the company’s directors goes to trial. 

Cladding maker 3A Composites has lost its bid to set aside a cross-claim in a suit against the builder of the Tempo residential towers in Botany Bay over allegedly flammable aluminium composite panels.

Coal producer TerraCom has agreed to pay $7.5 million to resolve ASIC proceedings alleging it made misleading statement to the market that damaged a whistleblower's reputation.