Noumi has largely lost its bid to shield from a class action parts of its inhouse counsel’s evidence supporting a privilege claim over 3,000 documents seen by Ashurst and PricewaterhouseCoopers during an investigation into the company’s financial position.
Worley contravened the Corporations Act a decade ago when it failed to correct 2014 earnings guidance for several months, but shareholders in a long-running class action against the engineering services company have failed to prove the breach caused any loss, a judge has found.
The funders that bankrolled a securities class action against collapsed engineering firm RCR Tomlinson will ask the court to give them an $8 million cut of a $40 million settlement. A further $12 million in legal fees means shareholders will get 50 per cent of the settlement sum.
The corporate regulator has brought proceedings against EverBlu Capital and Creso Pharma director Adam Blumenthal, alleging market rigging and breaches of duty, and has accepted an undertaking by the stockbroker that he will quit his involvement in financial services for the next five years.
Former Bellamy’s Australia director Jan Cameron has been found guilty of two counts of breaching the Corporations Act, following an investigation by the corporate regulator over her failure to disclose her stake in the baby formula company.
ANZ’s failure to disclose a bailout by banks underwriting a $2.5 billion share placement has resulted in a penalty of less than $1 million, ending an eight-year saga that included an aborted criminal trial.
More than three years after filing a class action against failed asset finance lender Axsesstoday and auditor PricewaterhouseCoopers over a $50 million prospectus, the applicant has asked a court to file a new statement of claim that will join insurer Dual Australia to the case.
Food manufacturer Noumi is trying to reach agreement with the Australian Securities and Investments Commission on a penalty to propose to the court for violating its continuous disclosure obligations by overstating the value of inventory.
A judge has signed off on a $26 million settlement in a shareholder class action against Ardent Leisure over the 2016 Dreamworld tragedy, including $7.8 million for the funder that backed the case and $5 million in legal costs.
Weeks after giving the thumbs up to common fund orders at settlement, the Full Federal Court has been asked to decide whether judges have power to order payment of a commission to class action solicitors — not just funders.