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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.
One of the applicants in a settled shareholder class action against tech company Arasor has sued the funder that backed the case alleging it is owed $1.2 million in personal expenses accrued while serving as lead applicant on the case.
AUSTRAC has expanded into investigation into Star Entertainment's compliance with anti-money laundering laws, two months after a third law firm announced a shareholder class action investigation into the casino operator on the back of damning media reports.
If evidence were needed that courts are not rubber stamping class action settlements, the scrutiny of multi-million dollar agreements in 2021 is proof positive that judicial oversight of representative proceedings is robust.
Dixon Advisory faces a second class action on behalf of investors who claim they suffered significant financial loss when the advice firm and its directors allegedly encouraged the purchase of high risk, high fee securities for their own financial gain.