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A judge has declined to make a common fund order in approving a $35 million settlement in a shareholder class action against telecommunications firm Vocus Group, resulting in a reduced payout for the funders that backed the case.
Directed Electronics has slammed a decision by one of its former managers to switch lawyers in the middle of a trial over alleged corporate theft, saying the move had a "tactical flavour".
The judge presiding over the settlement approval hearing in a shareholder class action against telecommunications company Vocus Group has questioned whether the High Court's recent ruling striking down common fund orders at the outset of class actions would allow him to make such an order at settlement.
Kraft has lost an appeal in its high-stakes legal battle against Bega over the right to use its distinctive peanut butter trade dress in Australia.
BHP has failed in a bid to shut down a class action over the Fundao dam failure pending criminal proceedings in Brazil, with a judge ruling the mining giant would not be prejudiced if the case proceeded for now.
Deloitte has lost its appeal of a ruling in a shareholder class action over the collapse of Hastie Group that compelled the production of audit files taken by a partner from the accounting giant’s litigation room, in a ruling that described the actions of the partner as “bordering on contempt” and slammed Deloitte for “cynically” exploiting the situation.
A ruling is expected Thursday in an appeal by the partnership of Deloitte over the production of audit files that were apparently stolen from the accounting giant's litigation room, a high-stakes decision that will clarify the limits of a partnership's right to claim privilege against self-incrimination.
A Pacific Current shareholder has won court approval to bring a derivative lawsuit against certain current and former directors of the funds management company for allegedly breaching their duty of care and diligence in relation to the company's 2014 merger with US-based Northern Lights Capital Group.
A former manager of Australian electronics automotive developer Directed Electronics OE has failed to block access to certain documents in a corporate theft case, despite the Federal Court finding they gave rise to a "real and appreciable risk" of civil or criminal prosecution against him.
ASIC has chalked up a victory in a long-running case against a Marshall Islands-based binary options trader, with a judge finding the trader engaged in the "deliberate deception of vulnerable people".