A judge has dismissed a class action applicant’s claim that he was underpaid as a University of Sydney postgraduate student, but left for another day the question of whether the court should also make orders binding group members.
The eSafety Commissioner has told the Full Court X Corp should not be able to use its merger with corporate predecessor Twitter to escape regulation.
A group costs order giving class action solicitors a percentage cut of the proceeds of a case is a factor in weighing whether proceedings should be transferred from Victoria to a state in which such an order could not operate, the High Court has ruled.
Are group costs orders a factor in deciding a bid to transfer a class action? Can the orders survive the move to an inhospitable state? These questions are to be decided by the High Court Wednesday, in a ruling that will clarify the relevance and reach of Victoria’s contingency fee regime.
As the High Court hears oral arguments this week on the reach of power to make common fund orders for firms and funders bringing class actions, Lawyerly gives a cheat sheet on what the justices could do.
Noumi and auditor Deloitte will pay $43 million to resolve a class action alleging the company misled investors about its inventory, and the class action will make a play for a $5 million penalty agreed to in ASIC proceedings.
ASIC wants the Full Court to overturn a finding that Noumi waived privilege over a PwC report produced under a voluntary disclosure regime, arguing the regime benefits the public in making investigations more efficient.
A judge has signed off on an agreed-to $5 million penalty against Noumi in ASIC proceedings for violating its continuous disclosure obligations and found the food company’s non-disclosures caused it shares to trade at an inflated price.
In submissions to the High Court, the applicant in a class action brought on behalf of Arrium shareholders against KMPG has attacked the Attorney-General’s argument that a contingency fee order is a neutral factor in assessing the accounting firm’s bid to move the case from Victoria.
Noumi has agreed to pay a $5 million penalty for violating its continuous disclosure obligations in a case brought by the corporate regulator, but the applicant in a shareholder class action against the food company says the sum should be reserved to compensate group members.