A judge has allowed four ex-Linchpin directors facing possible fines by ASIC to put off filing evidence or amended defences in an investor class action after they claimed it would put them at risk of penalty in the corporate regulator’s proceedings.
A judge has rejected a bid by chain logistics company Brambles to allow two of its US-based witnesses to appear remotely at an upcoming trial in a shareholder class action, saying the executives should make the trip or give no evidence.
Bell Potter has defeated a lawsuit by Nicholas Bolton’s Keybridge Capital over a 2015 phone call which lasted one minute and 18 seconds in which the investment firm was accused of committing its client to buy $10 million worth of shares in defunct Molopo Energy.
Deloitte has won its bid to keep confidential documents away from the funder backing a consolidated shareholder class against food company Noumi which alleges the auditor was complicit in misleading the market.
A fight over a global privilege claim by Noumi has been foreshadowed in a consolidated shareholder class action against the food company, formerly Freedom Foods.
Shine and Phi Finney McDonald’s fallback plan to cooperatively run a class action against Nuix has come under fire, with the technology company urging the court to make the two firms compete against one another for sole carriage.
Investment manager Payton Securities has lost a bid to recoup claimed losses over $1.4 million stemming from an allegedly negligent property valuation by Bertacco Ferrier, with a judge finding that the company had not retained the valuer and was not a party to the valuation.
Online trading platform Trade360 will close shop at the end of the month, following an ASIC investigation that found its representatives at an offshore call centre provided personal advice to clients which the company was not licensed to give.
ASIC has called for a $15 million penalty against GetSwift and 12-year bans against its directors, who moved the logistics company overseas as the regulator’s enforcement action was on foot, a move the court on Tuesday said was “unprecedented”.
In the latest round of finger-pointing in a consolidated shareholder class action against Noumi, formerly Freedom Foods, the food company has taken aim at Deloitte’s claims that it gave the accounting firm misleading information.