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Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.
The Takeovers Panel has found Cosette cannot close a Mayne Pharma drug manufacturing plant in Adelaide, another win for Mayne in its push to block the US drug maker from walking away from their $672 million merger.
The Foreign Investment Review Board has extended the deadline for ruling on Cosette's proposed $672 million takeover of Mayne Pharma.
The Takeovers Panel has agreed to hear Mayne Pharma's latest dispute with Cosette over the US drug maker's attempts to walk away from their $672 million merger agreement and extended the timeline for completing the deal.
Mayne Pharma has secured an extension of the deadline for securing Foreign Investment Review Board approval of its $672 million tie-up with US drug maker Cosette.
Cosette plans to appeal a ruling that rejected its bid to terminate an agreement to merge with Mayne Pharma, as the US drug company also refuses to agree to conditions needed to win Foreign Investment Review Board approval for the tie-up.
Mayne Pharma has won a dispute with US drug maker Cosette over the termination of a $672 million merger agreement, with a judge finding Mayne did not breach its continuous disclosure obligations by failing to disclose a letter from the US FDA sooner.
The applicant in a class action by former RAMS franchisees can't intervene in proceedings by ASIC against the defunct Westpac mortgage unit, with a judge finding the outcome of the ASIC case will not affect the class action.
Westpac’s defunct mortgage unit RAMS has accused a class action by former franchisees of attempting to “hijack” civil penalty proceedings by the corporate regulator by seeking to intervene in the case.
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.