In a boost to shareholder class actions, the High Court has dismissed an application by engineering services firm Worley to appeal a finding that companies should disclose to the market forecasts that ought reasonably to have been held.
Airservices Australia has succeeded in overturning a “manifestly unreasonable” $72,450 fine, but otherwise failed in its appeal of a decision which found it breached an enterprise agreement by withdrawing guidelines for standby shifts for air traffic controllers.
A judge has rejected a class action law firm’s challenge to her decision to slash its fees in two underpayments class actions against supermarket chain Romeo’s after finding it “seriously breached” rules of the legal profession.
Embattled investment firm Linchpin Capital has sued auditors Grant Thornton and Moore Stephens for signing off on the compliance plan for a registered fund that allegedly used investor money to advance the company’s business interests and line its directors’ pockets.
A judge has blasted Domino’s for its obstructionism in an underpayments class action and promised to order the pizza franchise giant to hand over information on its stores to facilitate settlement.
A judge overseeing a shareholder class action against GetSwift has said the settlement and company itself have “collapsed” after the logistics business went into liquidation and failed to make the last of the upfront payments due under the deal’s $1.5 million cash component.
A judge overseeing the trial in a shareholder class action against chain logistics company Brambles has questioned the company’s use of long-term financial forecasts.
A judge has allowed four ex-Linchpin directors facing possible fines by ASIC to put off filing evidence or amended defences in an investor class action after they claimed it would put them at risk of penalty in the corporate regulator’s proceedings.
A judge has rejected a bid by chain logistics company Brambles to allow two of its US-based witnesses to appear remotely at an upcoming trial in a shareholder class action, saying the executives should make the trip or give no evidence.
A judge has signed off on the discontinuance of two class actions against Canberra property developers for allegedly misleading investors about GST on their apartments, after the High Court declined to review a ruling that made the cases “uneconomic” for the funder to pursue.