Most Recent
All eyes on lawyers’ 27.5% cut as court prepares to weigh first GCO class action settlement
Analysis 2024-03-26 11:54 pm By Cat Fredenburgh

When the Supreme Court of Victoria considers for the first time a settlement reached in a class action run on a contingency fee basis, it will grapple with some novel questions, including whether to trim the 27.5 per cent group costs order granted to Slater & Gordon at the outset of the case, legal experts say.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASIC wins another guilty plea in relation to $180M Ponzi scheme
White Collar 2024-03-20 3:33 pm By Cat Fredenburgh

The Australian Securities and Investments Commission has secured a third guilty plea stemming from its investigation into a $180 million Ponzi scheme run by the Courteney House group of companies.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Aussie Broadband challenges Superloop sell order amid takeover fight
Telecommunications 2024-03-20 4:19 pm By Sam Matthews

Aussie Broadband is seeking to set aside a notice from the board of internet service provider Superloop directing it to sell down its 19.9 shareholding in the company, arguing the sell order was made for an improper purpose amid a “contested takeover battle” between the companies. 

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Blue Sky founder may have insider trading claims over release of Glaucus report, judge says
Securities 2024-03-15 11:08 pm By Sam Matthews

Blue Sky’s founder and former managing director Mark Sowerby has won orders requiring a director of US hedge fund Glaucus to produce documents relating to claims the short-seller shared information with market participants before releasing a report which sent Blue Sky’s shares into a tailspin.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Court asked to sign off on 34% cut for group members in Wellard class action
Securities 2024-03-14 4:36 pm By Sam Matthews

A shareholder class action against livestock exporter Wellard is seeking approval for a $23 million settlement which will see only $7.86 million go to group members, telling the court that the funder and law firm that ran the case have agreed to take a haircut on the deductions they’re entitled to.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

In class action defence, Blue Sky says EY has case to answer
Class Actions 2024-03-13 11:15 pm By Sam Matthews

Defunct investment firm Blue Sky has denied a class action’s claims that it misled shareholders ahead of its 2019 collapse and has pointed the finger at auditor EY.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

‘A Pyrrhic victory’: Class action up for Worley’s costs after failing to prove loss
Class Actions 2024-03-07 3:59 pm By Christine Caulfield

Despite succeeding on a number of claims, the applicant in a tortuous shareholder class action against Worley must foot the engineering services company’s bill for defending two trials.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASX pays $1.05M fine for ‘careless’ pre-trade transparency failure
Securities 2024-03-07 2:57 pm By Christine Caulfield

ASX Limited has paid a $1,050,000 fine after the corporate regulator pinged it with an infringement notice for failing to comply with market integrity rules — a first against the market operator.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Downer EDI points finger at KPMG in shareholder class action
Energy & Natural Resources 2024-03-04 3:55 pm By Christine Caulfield

Downer EDI has named KPMG in a cross-claim in a class action by shareholders, a move the accounting giant says has forced it to resign as auditor for the infrastructure services company.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Law firm wins 30% contingency fee rate in IAG shareholder class action
Class Actions 2024-02-29 11:50 pm By Christine Caulfield

The law firm behind a class action against Insurance Australia Group has secured a group costs order that will give it 30 per cent of any proceeds — a contingency fee rate six percentage points higher than the median rate for shareholder cases.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?