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Logistics company Brambles has followed through on plans to challenge its landmark loss in a shareholder class action, setting the stage for further appellate court guidance in securities cases, which once routinely settled.
Logistics company Brambles has lost its bid to pause costs orders while it prepares an appeal of the first post-trial win for a shareholder class action, while also flagging a bid to stay determination of group member claims.
The lead shareholder in class actions against CBA has urged the High Court to take a "common sense" approach to loss causation in securities cases, as endorsed by the Full Federal Court in last month's ruling for Worley's investors.
After handing down the first post-trial win for a shareholder class action on damages, a judge has assessed the figure owing the lead applicants, and made orders for a lump sum assessment of costs, which he estimated at $20 million.
A judge has approved a $67 million settlement in a class action against QSuper but has trimmed the payout for the litigation funder, criticising it for a "brazen and unjustified" deduction that was dropped during the hearing.
A judge has approved amendments to a shareholder class action against iSignthis and auditor Grant Thornton, over the opposition of the fintech firm, which argued the changes would amount to an abuse of process.
A contradictor has recommended the court trim $3 million from a funder's cut of a $67 million settlement in a class action against QSuper, saying the court should not allow 'double dipping' given the funder was shielded from some risk by ATE insurance.
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 judge has approved a settlement with KPMG in a shareholder class action over the collapse of mining company CuDeco, as well as a distribution scheme that will see payments to the funder but not group members.