Melbourne-based hard assets investment manager Merricks Capital has filed court proceedings to block its ex-managing director and two other former employees from working at a investment boutique run by financial commentator Peter Switzer and his son Marty.
A judge overseeing a class action against retirement home provider Aveo Group has appointed an amicus curiae for what is believed to be the first time to assist the court in a fight over the wording of an opt out notice describing a “novel” funding model.
A foreshadowed application for a funding order in a class action that would put a lien on some group members’ homes was “entirely unprecedented and without jurisprudential basis”, retirement home provider Aveo Group has said.
The former CEO of failed electronics retailer Dick Smith should be held responsible for approving two dividend payments worth $28.5 million which the company could not afford to pay given it owed millions in unpaid bank loans and supplier debts, an appeals court has heard.
Ernst & Young has settled all claims against it in a shareholder class action alleging the Big Four accounting firm and Pitcher Partners signed off on an overly rosy year-end financial report that failed to disclose risks and impairments associated with the law firm’s disastrous $1.2 billion acquisition of UK insurance claims company Quindell.
A unit of Suncorp Group has reached an in-principle settlement in a class action over alleged conflicted remuneration on the first day of an expected 25-day trial.
Retirement home provider Aveo Group has opposed a proposed opt out notice that it says would “scare” elderly people by warning the funder that’s backing a class action against it may seek an “unprecedented” order against certain unfunded group members.
Deloitte and Noumi, formerly known as Freedom Foods, have pointed the finger at one another in a consolidated shareholder class action, with the accounting giant saying the food company made misleading representations in its financial reports and should be on the hook for its costs in defending the lawsuit.
The directors of mortgage aggregator Connective Services have been hit with indemnity costs for their “outrageous conduct” in pursuing litigation against a company shareholder, including giving false statements and destroying evidence.
A case before the Full Court that will revisit the question of whether class actions are managed investment schemes may not resolve all of the funding controversies that have emerged in a class action against franchise giant Retail Food Group, a court has heard.