Three Sydney-based law firms have agreed to settle the class actions brought against them by Australian-Chinese investors seeking over $6 million in damages for allegedly negligent advice provided about investment properties developed by the now collapsed Ralan Group.
The Australian arm of global financial solutions provider Pershing faces sentencing after pleading guilty to criminal offences of mishandling client funds.
Personal healthcare giant PZ Cussons has lost its bid for indemnity costs against the ACCC, after claiming that the regulator was “doomed to fail” when it appealed a judgment dismissing its case over an alleged laundry detergent cartel.
The path has been cleared for US university to patent its rare cancer detection invention, defeating opposition from an Australian medical technology company.
The ACCC has come up short in its appeal of a ruling that dismissed its challenge to Pacific National $205 million acquisition of Aurizon’s Acacia Ridge Terminal in Queensland, with the Full Federal Court also releasing Pacific National from an undertaking given to the court.
A judge has made a common fund order in approving a $3 million settlement in a class action against mortgage lending and investment company RMBL, the first common fund order granted since the High Court shot down these orders in the early stages of class actions.
A closely watched shareholder class action against Myer over an inflated profit forecast from former CEO Bernie Brookes has been dropped, after a court found the retail giant misled shareholders but that they suffered no harm.
An Ashurst partner is at risk of being evicted from his Point Piper home after allegedly refusing to pay a $150,000 special levy.
Treasury Wine Estates is facing the threat of multiple shareholder class actions in the US over a January 2020 profit downgrade that is already at the centre of two class actions filed in Australia.
A decision this week rejecting a proposed common fund order at the settlement approval stage of a class action against teleco Vocus has dashed the hopes of litigation funders that a recent High Court ruling would not foreclose on judges using discretion at the end of a case and will cement a return to bookbuilding and a focus on shareholder class actions by institutional investors.
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