An appeals court has thrown out X Corp’s legal challenge to a compliance notice issued by the eSafety Commissioner to corporate predecessor Twitter over child exploitation material monitoring on its platform.
In explaining where CBA shareholders went wrong in proving damages from the bank’s omissions over an AUSTRAC probe, the Full Federal Court has given class action plaintiffs the clearest indication yet of how they might win.
The failure of two class actions to prove loss linked to the Commonwealth Bank’s disclosure breaches was not the fault of the bank, an appeals court has held in dealing the latest blow to shareholder group proceedings.
Two class actions against Commonwealth Bank have partially succeeded on appeal, with a finding that the bank breached its continuous disclosure obligations, but damages still elude shareholders.
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 judge has signalled he will approve a $500,000 settlement in an underpayments class action against labour hire company Stellar Personnel, but has grilled the applicant’s law firm over costs.
A judge has approved a settlement of up to $180.4 million in a stolen wages class action against the WA government but slashed the law firm’s fees and funder’s commission.
Law firm Gerard Malouf & Partners will move for a solicitors’ common fund order in a class action against Philips Electronics, which will give it an effective contingency fee in the event of a win or settlement.
CBA has attacked two failed class actions’ “misguided” appeal, arguing that requiring companies to disclose incomplete information to shareholders would distort the market.
The Full Court has heard that a judge’s finding on materiality in two failed shareholder class actions against CBA could have “troubling” repercussions for insider trading cases and must be overturned.