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ASIC has won its case alleging Regional Express failed to correct an optimistic forecast before it entered administration last year, but failed to prove the company's optimism conveyed a "likelihood" or that three non-executive directors had actual knowledge of the collapsed budget airline's declining business.
A judge says a shareholder class action against IAG can add a new damages claim, despite the insurer arguing it was untethered from any contravention and “clearly bad in law”.
A settlement has been reached in a dispute over more than $100 million in shares in AI data centre start-up Firmus Grid ahead of an expected $7 billion IPO, just days before the company's founders were due to give evidence in court.
A shareholder class action has won access to reports by FTI Consulting and KPMG that were commissioned by water remediation company Phoslock, with a judge finding they were not created for the dominant purpose of providing legal advice.
Engineering services firm Worley has taken last month's landmark loss in a shareholder class action to the High Court, challenging the Full Federal Court's embrace of market-based causation and its adoption of the facilitation principle.
Logistics company Brambles has lost its bid to pause costs orders while it prepares an appeal of the first post-trial win for a shareholder class action, while also flagging a bid to stay determination of group member claims.
A shareholder class action against water treatment firm Phoslock wants the company to hand over reports by KPMG and FTI Consulting, arguing the material is not protected by legal professional privilege because it wasn't produced for the dominant purpose of providing legal advice.
The lead shareholder in class actions against CBA has urged the High Court to take a "common sense" approach to loss causation in securities cases, as endorsed by the Full Federal Court in last month's ruling for Worley's investors.
ASX Limited has reached a settlement with the corporate regulator just hours before a scheduled trial in a case over a market announcement that said its CHESS replacement project was “progressing well”.
Defunct forex broker Union Standard and its former agents have been hit with a combined $300.2 million penalty for “egregious” contraventions, including deliberately pushing risky derivative contracts onto inexperienced investors.