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A judge on Wednesday refused a bid by Australian mortgage aggregator Connective Group to put on hold a derivative lawsuit by a shareholder against the company's bigwigs over the sale of 25 percent of the business to Macquarie Bank, saying there were no special circumstances justifying a stay.
Corrs Chambers Westgarth has filed a shareholder class action against GetSwift alleging it provided inadequate disclosures and misled investors with its overhyped announcements about business contracts, one month after Squire Patton Boggs brought a similar suit.
Squire Patton Boggs has expanded its shareholder class action against GetSwift to include claims over statements the logistics software company made to shareholders regarding high-volume enterprise contracts.
Magic Circle firm Clifford Chance will represent Rio Tinto as it faces legal action in Australia over allegedly misleading investors about the coal reserves of a Mozambique mining company it acquired for $4 billion in 2011.
The Australian Stock Exchange has updated rules on company disclosures regarding consumer contracts, in the wake of a share suspension and investor class action against logistics software company GetSwift for "overhyped" business contract announcements.
As trial enters its second week in a landmark case against S&P Global, a judge has signed off on a settlement of a separate class action against the U.S. credit ratings agency over its alleged role in the global financial crisis.
The securities regulator is going after failed oil prospector Antares Energy and its former chief executive James Cruickshank after they told investors about offers for its oil and gas interests in western Texas that never materialised.
The former head of collapsed debenture firm Provident Capital has gotten court approval to appeal a ruling banning him from managing companies.
Lawyers running a class action against Murray Goulburn want access to evidence that the dairy cooperative's trust consulted with a QC about possible claims against its law firm, Herbert Smith Freehills.
The Australian Securities and Investments Commission has lodged a case in Federal Court against Rio Tinto, its former CEO and former CFO over allegedly misleading market statements it made about the reserves of a recent $4 billion acquisition, a controversy that has already landed the mining giant in hot water with regulators in the UK and US.