Activist US short seller Bonitas Research has welcomed legal action filed against it by agricultural fund manager Rural Funds Group as a chance for “investors to know the truth”, while also doubling down on the accusations of fraud at the centre of the case that sent the group’s share price plummeting.
The plaintiffs in one of two shareholder class actions brought against troubled sandalwood producer Quintis have complained about potential delays that could result from the “overly complicated loss theory” being advanced in a parallel class action.
BVivid has become the latest telco to cop penalties from the consumer watchdog over National Broadband Network marketing, after it admitted to cold-calling consumers and telling them they would be disconnected if they did not immediately switch over.
The Australian Securities and Investments Commission has filed an appeal against the Federal Court’s responsible lending ruling in favour of Westpac, arguing the decision had created uncertainty around the obligations of credit providers.
Two Westpac units have been hit with a class action over allegedly excessive superannuation interest rates, the third class action filed as part of Slater and Gordon’s $1 billion ‘Get Your Super Back’ campaign.
A judge has consolidated two concurrent cases against the former directors and auditors of collapsed construction company Forge Group, after warning the overlapping actions needed to be carefully managed to avoid it becoming an “unrideable bull”.
The $29 million settlement in the Radio Rentals ‘Rent, Try, $1 Buy’ class action is back on track after concerns by former CEO James Marshall about uncertainty in the deed of settlement were resolved.
Commodity trading and mining company Glencore has won a fight with the Australian Taxation Office over a $92 million tax bill related to copper purchased from a subsidiary operating the Cobar mine in NSW.
Agricultural fund manager Rural Funds Group has briefed a top-tier law firm to bring “unprecedented” legal action against US company Bonitas Research, after the activist short seller accused the group of fraud and sent its share price plummeting.
The barrister leading an appeal seeking to revive Quinn Emanuel’s fees for no service class action against AMP has criticised the approach taken in the landmark GetSwift ruling on competing class actions, saying it placed the court in the role of auctioneer and actually encouraged duplicative proceedings.