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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.
The failure of two class actions to prove loss linked to the Commonwealth Bank's disclosure breaches was not the fault of the bank, an appeals court has held in dealing the latest blow to shareholder group proceedings.
Two class actions against Commonwealth Bank have partially succeeded on appeal, with a finding that the bank breached its continuous disclosure obligations, but damages still elude shareholders.
A judge has questioned the need for solicitors in a class action against Jaguar to be involved in discovery of internal investigations by the car maker when a technical referee is to be appointed.
Johnson & Johnson has slammed a class action over allegedly ineffective cold and flu medications, telling a judge it has "real concerns" with how the case has been framed.
US drug maker Allergan may defend a class action over recalled textured breast implants by arguing its knowledge of the alleged defects was limited by the state of scientific knowledge at the time the products were made.
Ahead of an eight-week trial in an investor class action in July, ratings agency S&P has lost its bid to throw out the entirety of the expert evidence in the case.
CBA has attacked two failed class actions' "misguided" appeal, arguing that requiring companies to disclose incomplete information to shareholders would distort the market.
The Full Court has heard that a judge's finding on materiality in two failed shareholder class actions against CBA could have “troubling” repercussions for insider trading cases and must be overturned.
Two failed class actions against CBA claim a judge used a “far too onerous test” for materiality in deciding whether the bank should have told the market about deficiencies in its anti-money laundering systems.