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Trial is set to begin February 2 in a $100 million shareholder class action against Woolworths over a February 2015 profit downgrade that allegedly led to a drop in the company's share price.
While there was no shortage of pain and challenges for law firms as the coronavirus raged across the globe last year, a number of big firms also felt the sting of litigation from disgruntled clients, partners and employees.
A Federal Court judge taking over a shareholder class action against IOOF Holdings from a recent High Court appointment has lamented the lack of progress in the case, which has been ongoing for nine months.
Telstra has lost an appeal in a case brought by Melbourne, Sydney and Brisbane city councils over a planned upgrade of its payphone network across Australia, with an appeals court pointing to an "apparent paradox" in the telco's claim it did not need planning permits to install its next generation digital phone booths.
Shareholders who lost a Federal Court trial in their class action against engineering company Worley are challenging the decision to dismiss the case.
An amicus curiae will be appointed by the court to argue against a common fund order application by the funder backing a class action against two Insurance Australia Group subsidiaries, after the insurance giant agreed to a $138 million settlement last month.
Federal Court Justices Jacqueline Gleeson and Simon Steward are safe and steady appointments to the High Court that are unlikely to disrupt the current culture of the bench and do nothing to assuage concerns about the opacity of the selection process.
The Morrison government has picked Federal Court Justices Simon Steward and Jacqueline Gleeson to fill the impending vacancies on the High Court.
A judge has sided with Worley in a ruling tossing a class action after a trial alleged the engineering company misled shareholders and breached disclosure rules by issuing an overly positive earnings guidance of $322 million for the 2014 financial year.
A judge's decision to throw out a shareholder class action against engineering company Worley is a loss for plaintiffs lawyers and could result in fewer listed companies willing to settle cases alleging they breached their disclosure obligations, but the ruling is not likely to have a significant chilling effect on securities litigation.