The judge who tossed a class action by Quintis’ shareholders should have found a restatement of assets would have materially affected the sandalwood company’s share price “as a matter of common sense”, a court has been told.
The applicants in an unsuccessful class action against the founder of sandalwood producer Quintis and auditor EY is challenging the dismissal of his case — the sixth shareholder class action to fail at trial.
An appeals court has dismissed the corporate regulator’s “logically inconsistent” appeal against a landmark decision that found insurer Auto & General did not include an unfair term in its contracts.
A legal challenge over a Sydney private school’s plans to go co-ed has been dismissed, with a judge ruling the word “youth” in the school’s 150-year old founding document had a gender neutral meaning.
Qantas should pay a penalty of the “highest order” for outsourcing its ground crew staff during the COVID pandemic, a union has argued, while a judge has questioned if he needs to send a message that “you can’t play the court for a fool”.
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.
Mayfield Development’s competition case against NSW Ports over agreements to privatise two ports has made it to the High Court, with the developer pressing its argument that derivative Crown immunity did not apply to the port authority.
Fitch Ratings has lost its bid for summary dismissal of claims in a class action over allegedly rosy ratings for risky derivative financial products issued 17 years ago on the basis that they are time-barred.