Controversial legislation advanced by the Morrison government that will weaken the country’s continuous disclosure laws and make it harder to bring shareholder class actions has cleared the Senate.
PricewaterhouseCoopers has lost its bid to shut down a class action launched by bondholders of collapsed asset finance lender Axsesstoday Limited over alleged misrepresentations in a $50 million bond offer.
The applicant in a shareholder class action against IOOF wants to add ten new misconduct allegations, including that a relative of a former executive made $69,000 by offloading shares.
SkyCity’s announcement to shareholders about an employee’s interrogation by Chinese gambling authorities made little difference to the NZ casino operator’s share price, Crown Resorts has told a court in expert evidence ahead of a looming class action trial.
A judge has said the applicant in a class action against Brambles has “side-stepped” a challenge to a landmark class closure ruling that found there was no statutory power to shut out unregistered class action members, a decision that he said had “bedevilled” the courts.
Generic drug maker Mayne Pharma Group has been hit with a shareholder class action over disclosures in relation to price-fixing allegations by US authorities.
Australian law firm Gilbert + Tobin has advised fintech Afterpay on the largest public acquisition in Australian history under which US-based Square will acquire all of the company’s issued shares in a landmark $39 billion deal.
A green activist who filed a group proceeding alleging the government failed to disclose the impacts of climate change to investors in sovereign bonds does not have a common interest with group members and should have her lawsuit declassed, a court has heard.
A landmark ruling on a bid for a contingency fee in a class action is close, a judge said Tuesday as she heard argument in a class action against Treasury Wine Estates on whether an opt out notice should be sent to shareholders ahead of a group costs order.
A judge has denied a law firm’s bid to stay a rival’s closed shareholder class action against construction giant Boral but warned courts must be alive to the potential for conflicts where lawyers stand to reap “very significant financial awards” from class action proceedings.