Whitehaven Coal has struck back at a class action led by the father of famed mining investor Nathan Tinkler, calling the claims that it failed to fulfil an implied term of a $150 million share subscription from 2012 “fanciful”.
A Sleeping Duck shareholder has been ordered to pay the company’s costs on an indemnity basis in its failed oppression suit, with a judge finding that its decisions to reject Sleeping Duck’s buy-out offers of roughly $4 million were unreasonable.
Shareholders in Whitehaven Coal who helped inject $150 million of capital during a 2012 merger are “trapped” after the ASX-listed coal producer failed to abide by its side of the deal, a class action funded by mining investor Nathan Tinkler has alleged on the first day of trial.
A former EY partner and ousted board member at National Tiles has been ordered to pay indemnity costs after he lost a $1 million share dispute with the flooring company, with a judge finding he “unreasonably failed” to accept a settlement offer.
A ruling this week that kept intact a contingency fee rate of 27.5 per cent sought by Slater & Gordon to run a shareholder class action against G8 Education might encourage law firms to seek higher percentage payouts at the outset of group proceedings in Victoria.
Class action settlement approval hearings are not a time for the court to second guess a law firm’s contingency fee as set down in a group costs order, a judge has found, but the question of proportionality is still key, and evidence of a firm’s return on investment and hourly fees may be relevant to the final decision.
A judge has signed off on the first-ever settlement allowing a law firm to earn a contingency fee, approving a $12.8 million cut for Slater & Gordon in a shareholder class action against G8 Education.
A judge has granted broad discovery to a shareholder class action against IAG over COVID-related disclosures, saying the documents sought were relevant to determining the likelihood the insurer knew of the risk that it would have to pay out business interruption claims covered by polices that referenced defunct legislation.
A judge has made soft class closure orders in a shareholder class action against Medibank after the High Court has been asked to resolve a split on the issue by intermediate appellate courts.
A judge has allowed a law firm running a shareholder class action against medical glove maker Ansell to earn a 40 per cent contingency fee, but slashed the rate for settlements or judgments over $50 million.