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The score in shareholder class actions taken to trial now stands at a dismal 0-5 after a judge tossed class actions against the Commonwealth Bank of Australia on Friday. But don't expect funders to throw in the towel until the High Court or an intermediate appellate authority has its say, experts told Lawyerly.
Two class actions have failed to convince a judge that the Commonwealth Bank of Australia's money laundering compliance failure which led to a $700 million penalty was "law breaking on a grand scale" that should have been disclosed to the market, the latest shareholder case to flop after being taken to trial.
Omni Bridgeway will book a smaller-than-expected loss from its investment in failed shareholder class actions against the Commonwealth Bank of Australia that it spent close to $10 million on, having curbed its exposure by selling a stake in the group proceedings.
Slater & Gordon has won the court's nod to be separately represented at an upcoming settlement approval hearing where it will seek a $12.8 million group costs order for running a shareholder class action against G8 Education.
Network Ten has largely succeeded in its bid for indemnity costs against Bruce Lehrmann for his failed defamation case over allegations he raped former colleague Brittany Higgins in Parliament House, allegations the broadcaster proved at trial were true.
A judge has expressed concerns that issuing a further injunction against X Corp in proceedings by the eSafety Commissioner seeking the removal of posts that depict a stabbing at a Sydney church would make the court’s orders an “object of ridicule” since the social media company cannot be forced to comply.
The High Court has found the indefinite detention of an Iranian man is not unlawful because he could be removed to his home country were he to cooperate with immigration authorities.
Thomson Geer is set to nab four partners and 19 staff in a merger with boutique Perth-based firm Tottle Partners, expanding the national firm's presence in Western Australia.
The law firm behind a class action over cancelled Qantas flights has confirmed the case continues despite a $120 million settlement with the consumer regulator, and has called on the airline to follow through on its pledge to restore customers' confidence.
A judge has refused to allow a female pilot to bring claims that Qantas engaged in sex discrimination because it had a culture that was “hostile to women”, saying that while the 'vibe' of a claim might suffice in the court of public opinion, it could not survive in a court of record.