Quintis class action settlement delayed after insurance policy ‘cock-up’

Posted on by Alison Eveleigh
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The settlement of two shareholder class actions against sandalwood producer Quintis has been delayed after the company’s eleventh-hour revelation that it may have an extra $40 million in insurance.

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Murray Goulburn sues insurer for $8.85M to recover class action costs

Posted on by Christine Caulfield
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Dairy cooperative Murray Goulburn has launched proceedings against AIG Australia seeking to recover 20 per cent of a $42 million class action settlement it paid, plus the legal costs of defending two class actions.

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Three law firms settle class actions over Ralan investment advice

Posted on by Alison Eveleigh
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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.

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Pershing pleads guilty to mishandling client funds in first criminal case of its kind

Posted on by Christine Caulfield
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The Australian arm of global financial solutions provider Pershing faces sentencing after pleading guilty to criminal offences of mishandling client funds.

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ACCC dodges indemnity costs over failed detergent cartel appeal

Posted on by Miklos Bolza
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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.

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ACCC loses appeal over $205M Pacific National, Aurizon terminal deal

Posted on by Miklos Bolza
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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.

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First common fund order granted in the wake of High Court ruling

Posted on by Alison Eveleigh
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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.

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Landmark shareholder class action against Myer dismissed

Posted on by Cat Fredenburgh
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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.

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