A judge has dressed down ASIC over the handling of its action against GetSwift, criticising the regulator’s failure to seek a court injunction to prevent the company’s relocation to Canada.
The parents of accused Sydney fraudster Melissa Caddick may need to bring court proceedings to retain their $2.6 million Edgecliff home and recoup $1.2 million they gave to their daughter for the mortgage.
Logistics company GetSwift says it is considering an appeal of an 859-page judgment which lambasted the company and its directors’ “public relations-driven approach” to announcements on the Australian Stock Exchange.
The Australian Securities and Investments Commission has scored a victory in its long-running case against GetSwift, with the Federal Court finding the company and its directors breached the Corporations Act and ASIC Act through their “public relations-driven approach” to announcements on the Australian Stock Exchange.
An in-principle settlement has been reached with law firms Arnold Bloch Leibler and Slater & Gordon in a class action over Slater & Gordon’s disastrous $1.2 billion Quindell acquisition.
Logistics company GetSwift’s settlement of a shareholder class action will see group members share in $1.5 million cash plus access to further funds and revenue raised by the company over a three-year period.
A judge has issued a stern warning to litigation funders seeking to take a “gamble” on pending court proceedings, ruling they could be held liable for costs if their intervention proves critical to the advancement of the case.
A judge has refused a bid by accounting firms Pitcher Partners and EY to access share trading data of unregistered group members in a securities class action over advice to Slater & Gordon, despite claims upcoming mediation will be “pointless” without the information.
GetSwift has reached an agreement to settle a shareholder class action accusing the logistics company of misleading statements over contracts, avoiding a trial that was set to begin in two months.
GetSwift is opposing a bid by the lead shareholder in a class action to rely at an upcoming trial on evidence given by overseas witnesses in last year’s hearing in ASIC’s case, and its resistance could force the class to bring a separate case in the US to compel fresh testimony, a court has heard.