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A settlement agreement in a shareholder class action against GetSwift may be scrapped as the applicant seeks more information as to whether the logistics company is solvent or about to go under.
The Federal Court's recent dismissal of a class action against Iluka Resources provides assurance to companies and their D&O insurers that shareholder class actions are not necessarily merely a cheque writing exercise and that robust defences will be accepted by the courts, says Clyde & Co partner Patrick Boardman.
A case before the High Court could have major implications for company directors, giving shareholders in class actions the power to drag them before court for public examination.
Rio Tinto will face a penalty in proceedings brought by the Australian Securities and Investments Commission alleging the mining giant misled shareholders about the resources of a Mozambique mining company it acquired for $5.8 billion in 2011 and later offloaded for $70 million.
The Australian Securities and Investments Commission has dropped its investigation into Nuix’s financial statements in the lead-up to its 2020 public float, but will continue to probe the troubled tech company's statements in the period since the initial public offering.
The first order allowing plaintiffs lawyers to take a cut of the proceeds of a class action will guarantee group members in a case against G8 Education at least 72.5 per cent of any recoveries -- a notably higher percentage than the minimum legislated by a controversial bill before federal parliament.
The corporate watchdog has been subpoenaed for its investigation files in the latest development in a protracted discovery fight in a shareholder class action over alleged misconduct by wealth manager IOOF.
Investors have lost their class action against Perth-based Iluka Resources, the latest shareholder class action to fail after pushing through to trial.
The corporate regulator has confirmed it has questioned the brother of former Nuix CFO Stephen Doyle and might seek further examination as part of its ongoing investigation of the troubled tech company.
The former CEO of Blue Star Helium is challenging a ruling that slugged him with a $40,000 penalty and a four-year ban for failing to disclose to shareholders the identify of the buyer behind a botched sale of Texas oil assets.