A judge has pushed off a heated contest between law firms vying to lead a shareholder class action against construction giant Boral for what could be a year as a landmark High Court challenge plays out.
A litigation funder’s average rate of return on its investment in shareholder class actions was one of a number of factors weighed by a judge in approving a 25 per cent funding cut from the $42 million settlement in a class action against dairy cooperative Murray Goulburn.
Two law firms that filed competing shareholder class actions against construction giant Boral have asked the court to permanently stay the other’s proceeding, after the judge overseeing the matter said he might wait until the High Court’s ruling on the AMP class action beauty parade before deciding which class action should move forward.
Gloria Jeans’ owner Retail Food Group has avoided enforcement action by the Australian Securities and Investments Commission after an investigation sparked by last year’s damning parliamentary report into the franchise sector.
A judge has scolded the law firms behind competing shareholder class actions against Boral for delaying progress of the proceedings, but may wait until the High Court’s ruling on the AMP class action beauty parade before deciding which of three potential class actions should move forward.
A claim by Treasury Wine Estates that Maurice Blackburn — but no other law firm — is prohibited from bringing a shareholder class action over disclosure breaches related to its US business had an “air of unreality” about it, a judge has said.
ISignthis is ramping up its battle against the ASX, seeking court approval to amend its lawsuit against the exchange to seek more than $27 million in damages for its alleged misleading and deceptive conduct.
A former director of GetSwift has given evidence at trial in ASIC’s case against the logistics provider that the company drafted a correction to a misleading ASX announcement about a deal with fruit and milk delivery provider Fruit Box but never released it.
The former company director and CEO of gold exploration company Quantum Resources has been charged with insider trading.
In a defeat to the Australian Securities and Investments Commission, a judge has found a key witness in the trial against former Quintis director Frank Wilson must give evidence in person, delaying the hearing indefinitely until coronavirus-related travel restrictions are lifted.