Medibank has lost its bid for class closure orders that would have required group members in a shareholder class action over its 2022 data breach to register prior to mediation to receive part of any settlement, with a judge finding it was “not appropriate” to exclude them from any deal struck shortly before trial.
Buoyed by the recent trial success of CBA and other companies facing shareholder ire, building materials giant Boral is taking its chances at a hearing in a class action alleging disclosure breaches linked to its US windows business.
A judge has signed off on an agreed-to $5 million penalty against Noumi in ASIC proceedings for violating its continuous disclosure obligations and found the food company’s non-disclosures caused it shares to trade at an inflated price.
Noumi has agreed to pay a $5 million penalty for violating its continuous disclosure obligations in a case brought by the corporate regulator, but the applicant in a shareholder class action against the food company says the sum should be reserved to compensate group members.
A shareholder class action against BHP has sought more time to finalise its pleadings ahead of trial, after a judge threw out two class actions against the Commonwealth Bank that also alleged continuous disclosure breaches.
Group members in a class action against ANZ over credit card interest charges that settled for $57.5 million are expected to take home at least 60 per cent of the settlement sum after legal fees and a funder’s commission are deducted.
Google has slammed Fortnite game maker Epic Games’ landmark competition case against it as “contrary to commercial reality”, saying its competition with rival tech giant Apple means it is no monopolist.
Generic drug maker Mayne Pharma has resolved a shareholder class action centred on disclosures connected to price-fixing claims by US regulators.
In a landmark competition case, Apple has told the Federal Court that Epic Games and other developers should not be allowed to “freeride” on the resources and user base the tech giant has “spent many billions” to develop.
Previously noting the rate was “well outside the median range”, a judge has made an order granting the second highest contingency fee to a law firm running a shareholder class action against vehicle company FleetPartners Group, saying he was satisfied the group costs order was appropriate and necessary.