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GetSwift is keeping up its fight to have the judge overseeing a shareholder class action disqualify himself from the proceedings after overseeing the trial in the corporate regulator's case against the logistics provider.
GetSwift has promised the Federal Court that it will inform the lead applicant in a shareholder class action if any of its assets are to be transferred outside of Australia, after the applicant raised concerns about the logistics company's proposed relocation to Canada.
The judge overseeing a class action against GetSwift has refused to disqualify himself from the proceedings, rejecting claims that he could not be seen to approach the case with an "impartial mind" and taking a passing shot at the logistics company's use of the Americanism "recuse" in its application.
A high ranking executive from the Commonwealth Bank of Australia has warned that an increase in class actions could discourage Australia's best corporate leaders from joining company boards.
A recent announcement by logistics tech provider GetSwift that it will be relocating to Canada has heightened concerns by the lawyers running a shareholder class action against the company that it might not be able to meet any orders for compensation to group members.
Mining giant BHP is seeking to have foreign group members shut out of a shareholder class action over the Fundao dam failure in Brazil five years ago.
The State of Victoria has been hit with a class action for its allegedly negligent handling of its hotel quarantine program, which is believed to be responsible for the state’s second wave of coronavirus cases.
The Australian Securities and Investment Commission will not take action against the Commonwealth Bank of Australia or any of its directors of officers in relation to AUSTRAC proceedings the bank agreed to settle for $700 million in 2018.
Construction giant Boral must now contend with three class actions by shareholders alleging it failed to disclose financial problems with its US windows business, but the cases will stay on ice pending a High Court challenge.
Eight law firms made it to the courthouse door just under the wire last week, filing class actions on the eve of regulations that will require funders to register their class actions as managed investment schemes.