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Saying the appeals court committed "fundamental errors" in approaching their claim of loss, the applicants in failed cases against the Commonwealth Bank have appealed to the High Court, in a case that could clarity the elusive test for damages in shareholder class actions.
Following the failure of two class actions to prove market-based loss from the Commonwealth Bank’s disclosure breaches, the bank is fighting the class actions' bid to pursue individual ‘no transaction’ cases, saying they were “trying to keep something alive that is truly dead”.
Mayne Pharma and US drug maker Cosette have agreed to postpone the start of trial in a case over the termination of a $672 million merger to allow for late amendments.
Mayne Pharma has denied US drug maker Cosette's claims it breached its continuous disclosure obligations in relation to US FDA concerns about marketing for its Nextstellis contraceptive, as the drug makers spar over their $672 million merger.
A court has heard US drug maker Cosette may amend its case to accuse Adelaide's Mayne Pharma of continuous disclosure breaches in their battle over the termination of their $672 million merger.
With evidence finally in after six years, Lendlease has asked a court to reject a portion of a shareholder class action’s expert reply evidence, arguing it unfairly introduces a new and unforeseen loss methodology.
Another failed class action is headed to the Full Court, with a case against ex-CBA unit Count Financial appealing a ruling that found advisors did not breach their duty to act in their clients' best interest.
A judge has dismissed a class action against ex-CBA unit Count Financial alleging that it breached it duty to act in clients’ best interests and ensure adviser remuneration was free of conflict.
In explaining where CBA shareholders went wrong in proving damages from the bank's omissions over an AUSTRAC probe, the Full Federal Court has given class action plaintiffs the clearest indication yet of how they might win.
A class action against CMC Markets has won access to data thought to reveal that approximately 2,500 customers who failed screening tests for risky financial products were nevertheless permitted to trade.