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Payments processing company EML has been hit with a class action over its alleged failure to notify shareholders of concerns by Ireland's central bank relating to compliance with anti-money laundering regulations.
Two major Zip Co investors have sued Merrill Lynch for allegedly breaching its duties as financial advisor by recommending they sell their shares in the Aussie fintech after September 1 last year, at which point Paypal's announcement that it would enter the buy now, pay later market had sent Zip's share price plummeting.
Shareholders in a class action against failed steel giant Arrium and KPMG are seeking an unredacted version of an audit file by KPMG to probe the accounting giant's handling of the steel producer's financial statements before its collapse in April 2016.
A “full-blooded carriage fight” is set down for next year between two competing class actions alleging dairy giant a2 Milk misled shareholders with an overly optimistic prediction of its infant formula sales.
The liquidator of collapsed app-development firm Appster has filed a lawsuit against the company’s founders seeking $12 million in compensation for alleged insolvent trading.
More than 18 months after a split emerged among the courts, the Full Federal Court will weigh in on whether judges have power to shut out unregistered group members from a class action. But given the breadth of the question for the appeals court, the issue is unlikely to be resolved there.
The Full Court is set to examine whether the Federal Court has the power to make class closure orders prior to mediation, weighing on one of the biggest unanswered questions vexing the class action regime.
Saying the funding arrangement would eliminate the possibility that legal costs ate up the majority of any return to group members, a judge overseeing a shareholder case against G8 Education has issued the first ever group costs order in a class action.
Professional services giant PricewaterhouseCoopers has hit back at a class action over a $50 million prospectus for Axsesstoday, filing a cross-claim against the asset finance lender and saying it “takes no responsibility” for allegedly defective offer documents.
Former Slater & Gordon managing director Andrew Grech has told the Federal Court he regretted his "catastrophic error" in approving the $1.2 billion acquisition of Quindell's professional services division, which resulted in massive losses for the plaintiffs law firm.