Australia is not the haven for class actions that critics have claimed, according to a new report that shoots down the notion that the country is just behind litigation-happy US when it comes to targeting corporations in court.
A trial is set to kick off at the end of July in two class actions brought on behalf of holders of debentures who allege they suffered losses due to Australian Executor Trustees’ mismanagement of debenture issuer Provident Capital.
Multiple class actions against troubled sandalwood oil producer Quintis will soon compete to stay alive after a court heard Tuesday the company would bring an application to stay or consolidate the cases.
The plaintiffs in a shareholder class action against Commonwealth Bank have taken another stab at their statement of claim, after a judge struck down the part of their pleading alleging the bank’s systems for assessing money laundering and terrorism financing risk were deficient.
The Australian Securities and Investments Commission wants documents from Westpac Banking Corp. detailing how it disciplined rogue traders, including Colin ‘the Rat’ Roden, at the centre of a scandal to influence the benchmark Bank Bill Swap Rate.
A NSW Supreme Court judge refused Monday to move one of five class actions filed against AMP to Federal Court, and invited law firms for the other four actions to join the case in the state court.
Law firm Maurice Blackburn has dropped plans for a class action against Retail Food Group alleging the franchisor misled shareholders about the long-term viability of its business model.
A shareholder class action will be filed against Brambles now that IMF Bentham has agreed to unconditionally fund the case over alleged misstatements related to the logistics company’s 2017 financial year sales and revenue forecasts.
China-based food retailer Winha Commerce has settled legal action it launched against the Australian Stock Exchange over ASX’s threats to delist the company.
Goldman Sachs has agreed to involve more lawyers in its capital markets transactions communications, after the Australian Securities and Investments Commission raised concerns about representations made during a Healthscope block trade managed by the US investment bank.