A judge has said ASIC should have known that its case against four TerraCom directors over statements made to investors had no prospects of success, calling one of its submissions “unworthy of the corporations regulator”.
ASIC has filed action against Delta Electricity, owner of the Vales Point coal-fired power station in NSW, alleging “deliberate and calculated” manipulation in the market for electricity futures contracts.
A judge has approved a $43 million settlement in a class action action alleging Noumi misled investors about its inventory, including a 22 per cent group costs order to be split between the two law firms that ran the case.
In a first, the federal government has filed proceedings against a foreign investor and its former associate for alleged non-compliance with orders to divest their interests in rare minerals miner Northern Minerals.
Payments processing company EML has agreed to pay $37.3 million to settle a shareholder class action over its alleged failure to disclose Ireland central bank’s concerns with its anti-money laundering compliance.
S&P has reached a settlement in a case by two Cayman Island companies over alleged defective ratings but a class action won’t settle until “hell freezes over,” a court has heard.
A judge has OK’d a settlement in a class action against Treasury Wine Estates, along with $27 million in fees charged by Maurice Blackburn and Slater & Gordon, after initially questioning the difference between the firms’ rates.
A judge has recused himself from hearing a class action against Fletcher Building, and has imposed a ban on presiding over any cases involving Maurice Blackburn for a period of time.
The funder of a failed class action against the founder of sandalwood producer Quintis and EY and has been hit with costs, despite arguing the order would set a bad precedent.
A judge has temporarily excused uranium miner Paladin Energy from providing initial discovery in a shareholder class action, as the parties wait for a competing class action to be filed.