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A judge has ordered the lead applicant in a shareholder class action against G8 Education to disclose a previously redacted clause of a costs agreement to the childcare centre operator, saying he failed to show how supplying the information would give G8 a tactical advantage in the case.
A director of sunglasses company Quay Eyewear has lost her bid to access HWL Ebsworth’s advice to the company given during legal proceedings which accused her of tortious interference, breach of directors’ duties and intellectual property violations.
A judge has said that Australia's largest childcare centre operator, G8 Education, can apply for security for costs before a group costs order in a class action accusing the company of failing to keep investors in the loop about increased costs and occupancy rates affecting its 2017 financial performance.
Lawyerly's Litigation Firms of 2020 delivered significant victories for clients last year in bet-the-company matters, thriving in a tumultuous year that saw courts and litigants adapt to virtual trials and other new norms that are sure to outlast the COVID-19 pandemic.
Shareholders who lost a Federal Court trial in their class action against engineering company Worley are challenging the decision to dismiss the case.
A judge has sided with Worley in a ruling tossing a class action after a trial alleged the engineering company misled shareholders and breached disclosure rules by issuing an overly positive earnings guidance of $322 million for the 2014 financial year.
A judge's decision to throw out a shareholder class action against engineering company Worley is a loss for plaintiffs lawyers and could result in fewer listed companies willing to settle cases alleging they breached their disclosure obligations, but the ruling is not likely to have a significant chilling effect on securities litigation.
WorleyParsons has abandoned its mid-trial application to shut down a shareholder class action, amid uncertainty about whether the engineering company would be required to surrender its right to call reply evidence if it continued with its submission that it has no case to answer.
Counsel for WorleyParsons has denied the engineering firm's attempt to end a shareholder class action mid-trial would be the start of a "brave new world" of no-case bids in representative proceedings, saying this was a rare instance of a case with "no chance of success".
Engineering firm WorleyParsons has told the Federal Court it will press forward with a no case application in an attempt to shut down a shareholder class action against it.