One of two shareholder class actions against infant food maker Bellamy’s for allegedly misleading investors about its China growth strategy and declining infant formula market share in Australia wants to expand the class definition to include purchasers of equity swaps.
Former Wallabies star Israel Folau says a tribunal’s decision to terminate his contract with Rugby Australia over homophobic social media posts has no effect due to the apprehended bias of one of its members, prominent barrister and LGBTI rights advocate Kate Eastman.
The litigation funder bankrolling a new class action against Toyota over allegedly faulty filters in its diesel models is looking to earn a step-up commission of between 20 and 30 percent of any recovery in the case.
A new government inquiry will look at the fees and practices of insolvency professionals and whether the current insolvency system is set up to help struggling businesses turn around.
Hong Kong-based UDP was entitled to $25 million from its insurers after losing more than $30 million from its disastrous acquisition of dairy conglomerate 5 Star Foods, which had been secretly overcharging one of its biggest customers, food giant Lion Nathan Group.
The plaintiffs in a farming class action brought against Advanta Seeds over allegedly contaminated sorghum have been denied access to the defendant’s insurance policy documents, after a judge found “significant differences” with a recently successful application in a class action against Radio Rentals.
QBE Underwriting has defended its decision to deny insurance coverage to the builder of Sydney’s troubled Opal Tower development, claiming the cracking was not “major” and did not cause last year’s Christmas Eve evacuation.
The competition regulator has signed off on Viva Energy’s proposed acquisition of the remaining 50 per cent of Liberty Oil’s wholesale business, saying the deal was not likely to substantially likely to lessen competition in the wholesale fuel market.
The judge who presided over a rare securities class action trial last year against department store Myer will deliver judgment in the case this month that could be the first ruling on causation in Australian shareholder class actions and has the potential to have a chilling effect on law firms bringing the cases.
The High Court has shut down a lawsuit by mortgage aggregator Connective Services over the transfer of one third of the company’s shares after finding the proceeding prejudiced shareholders and contravened the Corporations Act.
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