A judge has ordered the applicant in a shareholder class action against former Arrium directors and KPMG over allegedly misleading statements made ahead of Arrium’s $754 million capital raising in 2014 to explain how the amount by which the mining company’s assets were allegedly overvalued was calculated.
A judge has slashed security for costs sought in a case brought by the liquidators of engineering and construction company Forge Group after the former directors targeted in the action failed to explain why they had retained multiple law firms.
A judge has found the Commonwealth and Murray Darling Basin Authority are not “public authorities”, striking out large portions of their defence in a class action brought by farmers alleging negligent oversight of water management in the critical Australian river system.
A judge has cut the money owed to the lead applicant in a securities class action against the directors and auditors of laser technology company Arasor from a $19.25 million settlement after a failed attempt to “re-litigate” a dispute over almost $400,000 in GST refunds.
A judge who oversaw a 39-day trial in 2018 in multiple class actions against S&P Global may be asked by the ratings agency to step down from hearing another class action alleging systemic defects in its ratings systems.
A bid by KPMG to push off the filing of its defence in a class action over misleading statements ahead of Arrium’s $754 million capital raising in 2014 has been shot down by a judge, who said the auditor has known the claims against it since November.
Two shareholders of failed Arrium Group have secured leave from the High Court to challenge a ruling that nixed their planned examination of a former director to bolster a class action over the collapse of the steel producer.
Whether a contingency fee order made in a Victoria Supreme Court class action can survive a transfer application to a NSW court could be the next high stakes class action issue for the courts.
A judge has lashed out at the legal team behind a class action against S&P over allegedly misleading credit ratings for filing hearsay evidence in support of an application to serve the ratings giant overseas, saying that “nobody who is a first year law student” would say the evidence was admissible.
A contractual dispute between a litigation funder and the lead applicant in a class action against S&P will not prevent the class action from progressing, with both parties giving undertakings to preserve the status quo while the feud remains on foot.