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Reforms by the Morrison government passed earlier this month weakening continuous disclosure obligations will spur corporate defendants to engage in "expensive interlocutory warfare" to shut down class actions right off the bat, and plaintiffs lawyers are waiting to see how the courts interpret the new laws to determine these early strike-out fights.
Worley’s increases to a budget behind an allegedly misleading 2014 earning guidance, amounting to $1.14 million, were a “drop in the ocean”, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.
Worley crafted the budget behind an allegedly misleading 2014 earnings guidance so that its shares could be rated as a “growth stock”, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.
The lead applicant in a settled shareholder class action against technology company Arasor can't dodge funder International Litigation Partners' costs, which it was ordered to pay after a judge rejected its "shambolic" attempts to be heard over a $1.2 million personal expenses dispute with the funder.
A judge has allowed a new applicant to lead a shareholder class action against recycling company Sims Metal Management, ruling that he could not force the original applicant to continue in the role when it wanted to back out.
A unit of Oaktree Capital Management has been ordered to join all former shareholders of consumer brand wholesaler Marlin Brands as defendants in a case over the investment giant's $200 million acquisition of the company that alleges fraud or wilful deceit on the part of the sellers.
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.