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A $1.5 million class action settlement against failed logistics provider GetSwift, which a judge termed a "disaster", has been revised down to $1 million and may face a liquidators' challenge that could see a group members recover nothing.
Lithium prospecting company AVZ Minerals is facing a potential class action for allegedly misleading shareholders about its ownership rights to its flagship lithium project in the Democratic Republic of Congo.
A law firm has lost its bid to challenge a court order that it join forces with a competing firm in an investor class action against Blue Sky Alternative Investments and auditor EY.
A judge has approved a group costs order with a tiered contingency fee that will guarantee group members at least 72.5 per cent of any returns in a shareholder class action accusing Crown Resorts of lax anti-money laundering compliance over a six-year period.
A recent ruling cutting the contingency fee sought by a plaintiff law firm shows competition to run class actions will drive down the percentage payout courts are willing to permit. And as more firms enter the market for a slice of the returns, the downward pressure on profits will only build.
The Australian Securities and Investments Commission has sued health and beauty giant McPherson’s Limited and its former CEO over alleged continuous disclosure breaches and misleading or deceptive conduct during a capital raise in late 2020.
A judge has granted a law firm's bid for a group costs order in a shareholder class action against payments processing company EML, but has trimmed its proposed cut of any recovery after comparing it to the contingency fee rate the firm accepted in another class action.
A law firm wants to challenge a court order that it play nice with a competing firm in a class action for investors against Blue Sky Alternative Investments and auditor EY.
Boral has won its bid to shield from shareholders in a class action three investigative reports, including one by accounting giant EY, concerning financial irregularities in the construction company's North America windows business.