The lead applicant in a class action over the failure of Banksia Securities is on the hook for paying the legal costs of a class member who successfully challenged the funder’s cut of a $64 million settlement in the case.
Telstra has lost an appeal of a ruling that rival Optus’ “Empires End” advertising campaign was not misleading or deceptive.
The High Court has granted special leave to mortgage aggregator Connective in a dispute between the firm’s founder and major shareholders over a transfer of one-third of the company’s shares, in a case that could clarify whether litigation should be considered a prohibited form of financial assistance under the Corporations Act.
Law firm Squire Patton Boggs is taking a fight over a ruling that shut down its shareholder class action against logistics startup GetSwift to the High Court.
A Queensland ethanol refinery owned by United Petroleum has appealed a judge’s ruling that insurer Allianz Australia did not have to provide coverage for damage resulting from a 2016 fire.
The Australian Securities & Investments Commission has largely prevailed on appeal to the High Court in its case against former directors of collapsed retirement village owner Prime Trust, including former federal health minister Michael Wooldridge.
The director of property spruiker We Buy Houses has appealed a record $6 million for misleading property investors with claims they could learn to buy real estate for $1.
The court’s authority to shut down competing class actions is no longer in doubt after Tuesday’s Full Federal Court judgment in the case against GetSwift, and while there is no “silver bullet” when it comes to how judges must deal with multiple proceedings, there are key factors to weigh, the appeals court said. Here, experts provide the big takeaways from the landmark ruling.
The Full Federal Court has dismissed a challenge to a ruling that chose one of three shareholder class actions to proceed against GetSwift, saying the court had the power to permanently stay competing cases. But an injunction blocking the losing law firms from communicating with clients was going too far, it said.
A groundbreaking judgment by the Full Federal Court over competing class actions will be handed down Tuesday morning and is expected to give judges much needed guidance on how to move forward when confronted, as they increasingly are, with multiple proceedings over the same alleged misconduct.