A judge has signed off on a $19.25 million settlement in a shareholder class action brought against directors of defunct laser technology company Arasor International Ltd and partners in auditing firm Grant Thornton South Australia, but cut the legal fees of Squire Patton Boggs and Piper Alderman by $250,000.
Two high ranking analysts from S&P Global have distanced themselves from the decision making process at the heart of a class action over toxic financial products given healthy ratings by the agency ahead of the global financial crisis.
A former treasurer for Coffs Harbour City Council was “careless” for not analysing the financial products he invested millions of dollars of the city’s funds into, a lawyer for ANZ said last week at a class action trial against the bank and US ratings agency S&P Global.
Corrs Chambers Westgarth has filed a shareholder class action against GetSwift alleging it provided inadequate disclosures and misled investors with its overhyped announcements about business contracts, one month after Squire Patton Boggs brought a similar suit.
Squire Patton Boggs has expanded its shareholder class action against GetSwift to include claims over statements the logistics software company made to shareholders regarding high-volume enterprise contracts.
The Australian Stock Exchange has updated rules on company disclosures regarding consumer contracts, in the wake of a share suspension and investor class action against logistics software company GetSwift for “overhyped” business contract announcements.
Squire Patton Boggs has brought a shareholder class action worth potentially $300 million against logistics software company GetSwift and its director, former AFL player Joel MacDonald, for providing inadequate disclosures and misleading investors with “overhyped” announcements about business contracts.