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A judge has given the green light to amendments to a $100 million class action against NAB over the collapse of Walton Construction, which include new claims of equitable fraud and knowing involvement in misleading and deceptive conduct.
Four insurers have agreed to fork over $1 million to settle an investor class action against lender Axsesstoday over an allegedly misleading prospectus for a bond offering, while claims against PricewaterhouseCoopers will move forward.
The Morrison-era reforms that introduced a fault element to the continuous disclosure laws should be repealed for civil penalty proceedings launched by ASIC, but retained for class actions by shareholders, a report of an independent review of the changes has recommended.
The High Court has been asked to overturn a NSW Court of Appeal decision finding it had no power to exclude unregistered group members from a settlement, which conflicted with Federal Court precedent, hearing the divergence of the important issue “can only be resolved by the High Court”.
A judge that tossed two shareholder class actions against the Commonwealth Bank of Australia has found the bank did not have to alert investors to the possibility of AUSTRAC proceedings, saying investors did not expect to be apprised of the "toings and froings" of regulatory investigations.
A class action against ANZ and former subsidiary OnePath has been given the green light to “significantly expand” its case against the big four bank, over three years after the case was first filed.
A judge has expressed concerns about the plaintiff’s proposed group costs order rate in a shareholder class action against fleet management company FleetPartners, saying the purpose of the GCO regime was to lower costs to group members.
Optus has denied that it ‘cloaked’ the true dominant purpose of a Deloitte report into a major data breach in 2022, arguing on appeal that the report was privileged and that a class action should not have access to it.
The plaintiffs in a class action against a group of surgeons who worked for The Cosmetic Institute have told a court that a costs assessment is not necessary to approve a $25 million settlement, which will see $10 million deducted for legal and administrative costs, in light of reductions to the fees.
The funder behind two class actions against Uber, which have settled for $272 million, stands to make a tidy sum if the settlement holds up at a court approval hearing.