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Sims Metal class action funder to get no more than 25%, shareholders guaranteed at least half
Class Actions 2019-07-05 11:31 pm By Cat Fredenburgh

Noting the “significant and beneficial reduction” in recent funding rates, the judge overseeing a shareholder class action against recycling company Sims Metal Management has signed […]

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Treasury Wine tries to claw back former exec’s $1.3M bonus
Employment 2019-07-05 10:07 pm By Amelia Birnie

Treasury Wine Estates is trying to claw back a $1.3 million share bonus paid to former managing director Peter Dixon, alleging serious misconduct relating to […]

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Judge reserves AMP class action loser costs after Phi Finney McDonald sinks 1,345 hours
Class Actions 2019-07-04 3:45 pm By Christine Caulfield

Boutique class actions law firm Phi Finney McDonald has won its bid to reserve costs incurred before its case was permanently stayed in the AMP […]

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Ex-Sirtex CEO pleads guilty to insider trading
White Collar 2019-07-03 3:25 pm By Amelia Birnie

The former CEO and director of biotech company Sirtex Medical, Gilman Wong, is facing a maximum ten years in prison after pleading guilty to insider […]

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Debt-laden fintech Squirrel can’t block receiver appointment
Restructuring & Insolvency 2019-07-02 9:17 pm By Amelia Birnie

A judge has refused to grant an injunction stopping the appointment of receivers to Australian cloud-based superannuation fund manager Squirrel Ltd, describing the company’s financial […]

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Global textiles giant Simba can peek at IFOTA’s books, judge says
Securities 2019-07-02 3:08 pm By Cat Fredenburgh

Clothing manufacturer IFOTA has been ordered to open its books to shareholder Simba after it raised concerns about IFOTA’s management and financial position. Fifteen per […]

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Commercial interests shouldn’t bar consolidation, says Brambles class action judge
Class Actions 2019-06-28 11:57 pm By Cat Fredenburgh

A judge has released his reasons for consolidating two shareholder class actions against logistics company Brambles over opposition by the lead applicant in one of […]

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ASIC appeals ruling in market manipulation case against NAB contractor Whitebox
Securities 2019-06-28 11:39 pm By Cat Fredenburgh

The Australian Securities and Investments Commission is challenging the dismissal of its enforcement action against  National Australia Bank contractor Whitebox Trading and sole director Johannes […]

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Lawyer tries to question costs in Sirtex class action settlement
Class Actions 2019-06-26 8:21 pm By Amelia Birnie

A self-described “vigilant lawyer against big companies” has attempted to make submissions regarding the costs incurred in the Sirtex shareholder class action settlement, with legal […]

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Third time unlucky: Mortgage firm loses another bid to stifle derivative suit over Macquarie sale
Securities 2019-06-26 2:25 pm By Amelia Birnie

An appeals court has dismissed a third attempt by directors of mortgage aggregator Connective Group to stifle a shareholder’s derivative lawsuit over a restructure that […]

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