A judge has grilled the former general counsel of defunct logistics company GetSwift about why he did not confront the company’s directors for “bullying” other executives when they raised concerns about alleged continuous disclosure breaches.
Regenerative medicine company Mesoblast has hit back at a shareholder class action over its Remestemcel-L treatment for COVID-19, saying that some group members are barred from bringing claims because of a settlement reached in a US class action.
An investor class action against RCR Tomlinson has reached a walk-away settlement agreement with two former directors of the failed engineering company.
Wood-fibre processor and exporter Midway Limited has been hit with a $33,000 penalty after the Australian Securities and Investments Commission alleged it failed to disclose a revenue downturn to shareholders.
In reasons for approving a $41 million deal to settle one of three shareholder class actions over Slater & Gordon’s acquisition of a UK firm and awarding the funder 28 per cent, a judge has challenged a persistent notion that the interests of litigation funders and group members are at odds.
A judge has approved a $450,000 penalty against Australian Mines in ASIC proceedings brought after its managing director was allegedly caught lying at an investment conference about the value of an offtake agreement and funding for a project at its cobalt and nickel mine in Queensland.
Hitting back at ASIC’s claims it misled investors and breached disclosure rules, technology company Nuix says it had no knowledge it was failing to meet its FY21 forecast and didn’t need to disclose to investors draft documents showing missed internal targets.
A judge has vacated an upcoming trial in shareholder class actions against former Quintis director Frank Wilson and Ernst & Young, after learning judgment in similar ASIC proceedings against Wilson will not be delivered before the class action hearing kicks off.
A costs report in a settled class action against Woolworths that recommended almost $800,000 in legal fee deductions failed to wrestle with a key factor in weighing the proportionality of the costs, a judge has said.
A judge has rejected Shine Lawyers’ second bid to challenge a court order that it join forces with rival Banton Group in an investor class action Blue Sky Alternative Investments and auditor EY, saying the firm’s funder LCM was trying to “take the bat and ball and go home.” Federal Court Justice Michael Lee rejected…