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Class action lawyers await guidance from courts on impact of continuous disclosure reforms
Feature 2021-08-25 5:57 pm By Miklos Bolza

Reforms by the Morrison government passed earlier this month weakening continuous disclosure obligations will spur corporate defendants to engage in “expensive interlocutory warfare” to shut […]

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Worley budget adjustments were ‘drop in the ocean’, Full Court hears in class action appeal
Class Actions 2021-08-17 10:19 pm By Cindy Cameronne

Worley’s increases to a budget behind an allegedly misleading 2014 earning guidance, amounting to $1.14 million, were a “drop in the ocean”, the Full Court […]

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Shareholders looking to revive class action say Worley pursued ‘growth stock’ ambitions over accuracy
Appeals 2021-08-16 9:09 pm By Cindy Cameronne

Worley crafted the budget behind an allegedly misleading 2014 earnings guidance so that its shares could be rated as a “growth stock”, the Full Court […]

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Arasor class action applicant can’t dodge funder’s legal bill after ‘shambolic’ handling of side dispute
Class Actions 2021-08-16 12:34 pm By Cat Fredenburgh

The lead applicant in a settled shareholder class action against technology company Arasor can’t dodge funder International Litigation Partners’ costs, which it was ordered to […]

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Court can’t force ‘unwilling’ applicants to litigate, says Sims class action judge
Class Actions 2021-08-13 8:28 pm By Miklos Bolza

A judge has allowed a new applicant to lead a shareholder class action against recycling company Sims Metal Management, ruling that he could not force […]

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Oaktree unit must join Marlin’s shareholders to $135M breach of warranty case
Corporate 2021-08-11 6:34 pm By Cindy Cameronne

A unit of Oaktree Capital Management has been ordered to join all former shareholders of consumer brand wholesaler Marlin Brands as defendants in a case […]

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Senate passes controversial changes to continuous disclosure laws
Policy and Regulation 2021-08-10 6:49 pm By Bianca Hrovat

Controversial legislation advanced by the Morrison government that will weaken the country’s continuous disclosure laws and make it harder to bring shareholder class actions has […]

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PwC can’t shut down class action against over $50M bond prospectus
Accounting 2021-08-09 8:57 pm By Cindy Cameronne

PricewaterhouseCoopers has lost its bid to shut down a class action launched by bondholders of collapsed asset finance lender Axsesstoday Limited over alleged misrepresentations in […]

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IOOF may face new misconduct allegations in shareholder class action
Class Actions 2021-08-09 10:20 pm By Bianca Hrovat

The applicant in a shareholder class action against IOOF wants to add ten new misconduct allegations, including that a relative of a former executive made […]

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Crown class action over Chinese arrests can’t block SkyCity share price evidence
Class Actions 2021-08-09 5:17 pm By Cindy Cameronne

SkyCity’s announcement to shareholders about an employee’s interrogation by Chinese gambling authorities made little difference to the NZ casino operator’s share price, Crown Resorts has […]

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