The litigation funder backing a class action against engineering company UGL over disclosures related to the ballooning costs of its Ichthys power project could pocket up to 30 percent of any settlement or judgment, according to a court order.
Shareholders in a class action against Sirtex have secured an order forcing the life sciences company to notify them of any plan that would see its $128 million in liquid assets drop below $80 million.
A judge has rejected an application by biotech company Sirtex Medical to limit a class action to shareholders who register as group members in the next month, saying a class-closure order could dramatically cut down on the size of the class.
Shareholders in a class action against Sirtex Medical have lost a bid for an order preventing the life sciences company from quietly moving $128 million in cash assets out of the country after its $1.9 billion takeover by a Chinese private equity company comes into effect Thursday, but the battle over the money will likely continue.
The Full Federal Court has handed Johnson & Johnson unit Ethicon a victory in the class action over its allegedly defective vaginal mesh devices, partly reversing a judge’s decision that expanded the class post-trial.
Chain logistics company Brambles is facing a second class action alleging it breached its continuous disclosure obligations by failing to revise its overly rosy 2017 financial forecast on several occasions.
Ethicon told the Full Federal Court on Monday that the judge overseeing the marathon class action against it over allegedly defective vaginal mesh devices got it wrong when she reset the dates for inclusion in the class.
Australia’s largest potato wholesaler Mitolo Group has hit back at allegations by the ACCC that its contracts with growers were unfair, telling a court the terms were open to negotiation and were necessary to protect the company’s intellectual property.
The Full Federal Court expressed doubts Tuesday about an “unusual” and “heavy handed” order restraining lawyers leading the stayed class actions against GetSwift from advising their clients about whether to opt out of the prevailing action.
The judge overseeing the GetSwift class action proceedings was bent on picking a winner from the outset and should be removed from the case for rehearing, a barrister for one of the losing law firms told the Full Federal Court Monday.