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Bank of Queensland loses fight with insurer over $6M class action settlement
Insurance 2018-11-07 10:22 pm By Cat Fredenburgh

Bank of Queensland has lost a dispute with two insurers over coverage for a $6 million settlement of a class action brought by investors in a Ponzi scheme by jailed scammer Bradley Sherwin, with a judge shooting down the bank’s argument that the class action should only be considered one claim under the policy.

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Law firm looks at short-seller VGI in class action probe ‘twist’
Class Actions 2018-11-02 10:15 pm By Christine Caulfield

Maurice Blackburn is investigating a possible class action after the share price of Corporate Travel Management plunged 27 percent on Wednesday, and will look at the role of VGI Partners in the sudden stock drop. 

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UGL knew LNG project was behind schedule by April, class action says
Class Actions 2018-11-01 11:10 pm By Cat Fredenburgh

UGL knew by April 2014 that there were delays with the Ichthys LNG project, but failed to make required disclosures to shareholders, according to an amended pleading in a shareholder class action against the engineering company.

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Surfstitch class action settlement in peril as debate rages over opt-out notice
Class Actions 2018-11-01 8:20 pm By Miklos Bolza

Judges do not have the power to approve a class action settlement without first issuing an opt-out notice to group members, the court-appointed contradictor in two shareholder class actions against online fashion retailer Surfstitch told the NSW Supreme Court Thursday.

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Ashley Services class action sent back to mediation for settlement talks
Class Actions 2018-11-01 7:51 pm By Christine Caulfield

Private education provider Ashley Services may be close to settling a shareholder class action, according to a court order sending the parties in the case to a second mediation session before the end of the year.

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Funder’s cut, legal fees in $64M Banksia settlement rejected on appeal
Appeals 2018-11-01 4:51 pm By Cat Fredenburgh

An appeals court has rejected the funder’s commission and legal fees stemming from a $64 million settlement in litigation over the failure of Banksia Securities, but granted approval to the settlement.

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Lawyers take aim in battle to lead BHP class action
Class Actions 2018-10-29 10:44 pm By Christine Caulfield

The high-stakes contest to run a shareholder class action against BHP has begun, with lawyers for three competing cases all arguing in Federal Court Monday that there can be only one winner.

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Murray Goulburn weighs cost-capping bid in class actions
Agriculture 2018-10-26 10:20 pm By Christine Caulfield

Murray Goulburn has told a judge it may seek to cap costs in two shareholder class actions that centre on a 2016 profit forecast revision, taking a page from the playbook of baby food maker Bellamy’s.

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ANZ to get ASIC probe docs in $2.5B share placement case
Securities 2018-10-26 10:20 pm By Cat Fredenburgh

ASIC has been given a little over a month to provide ANZ with documents it collected during the course of its investigation into a $2.5 billion ANZ share placement, as the bank, which is facing a related criminal cartel case, mulls whether to file an application to stay the regulator’s action.

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Judge urges class action lawyers to solve multiplicity problem
Class Actions 2018-10-26 4:45 pm By Christine Caulfield

Blasting the battle of competing class actions as a fight for the “commercial interests” of litigation funders not class members, a judge has called on lawyers for two shareholder actions against Brambles to settle the dispute themselves.

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