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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.
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.
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.
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.
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.
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.
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.
Woolworths has shot back at claims in a shareholder class action that it breached its continuous disclosure obligations, saying the lawsuit doesn't allege there was material information it should have disclosed to shareholders in advance of its downward revision of a 2015 profit guidance.
Class action funding arrangements that siphon off large percentages for commissions and legal fees are "unsustainable", Federal Court Justice Michael Lee said Monday.
The battle over competing shareholder class actions against failed sandalwood oil producer Quintis is heating up, with law firm Gadens launching a bid to shut down the case brought by Bannister Law, attacking its rival's experience and resources.