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ASIC has wrapped up its case against regional airline Rex without evidence from its former executive chairman, who reversed course this week and admitted he misled investors and breached his directors duties.
The former executive chairman at regional airline Rex has admitted ASIC’s claims that he misled investors about the company’s position and breached his directors duties and may give evidence for the corporate watchdog, a court has heard.
Four directors of regional airline Rex are set to decide this week whether they will remain silent in the face of allegations by the corporate regulator that they misled investors about the company’s financial position.
Sportsbet has won its argument about the scope of a waiver of privilege in a class action over unlawful betting services, but a judge has found that the lead plaintiff can still keep communications with Maurice Blackburn under wraps.
Sportsbet has argued that the lead plaintiff in a class action over alleged unlawful in-play betting services should hand over communications he had with his solicitor before he signed a retainer.
Before the decision in the Brambles case this week -- the first shareholder class action to succeed at trial -- the path to proving loss from disclosure breaches was a thicket of, well, brambles. Now after six consecutive losses, Justice Bernard Murphy has paved the way for plaintiffs to prevail.
In the first shareholder class action to succeed at trial in Australia, a judge has found logistics chain company Brambles breached its continuous disclosure obligations in relation to an overly rosy 2017 financial forecast amid problems with its North American pallets business.
A defects class action against Ford that's been on foot since 2016 is headed to the Full Court again, after a judge recently ruled on two remaining issues in dispute following a High Court ruling on on how reduction in value damages should be calculated.
A class action over Victoria's COVID-19 hotel quarantine debacle worth as much as $2.6 billion has reportedly settled, with the cost to taxpayers said to be about $50 million.
A class action alleging Sportsbet provided unlawful in-play betting services says the bookmaker’s counterclaim seeking restitution of winnings faces "obvious problems", pointing to difficulties in binding group members.