The field of competitors in a four-way contest to run a shareholder class action against Downer EDI over a $40 million profit overstatement has narrowed with the consolidation of three cases, leaving one firm to face criticism over its comparative inexperience running group proceedings.
The High Court has dismissed a constitutional appeal by Irish insurer Zurich, clearing the way for a class action over an allegedly defective New Zealand apartment block to proceed in the NSW Supreme Court.
Irish insurer Zurich Insurance has refused consent for a class action over a defective New Zealand apartment block to proceed in the NSW Supreme Court as it mulls a High Court challenge to the case.
Irish insurer Zurich Insurance has lost its appeal seeking to shut down a class action filed against it in the NSW Supreme Court over a defective New Zealand apartment block.
Irish insurer Zurich Insurance has appealed a judge’s finding that a class action filed against it in the NSW Supreme Court over a defective New Zealand apartment block could go ahead, arguing the finding was the result of federal overreach.
A class action against Irish insurer Zurich Insurance Plc by unit owners of the defective New Zealand-based Victopia Apartments can proceed in Australia after the NSW Supreme Court ruled the case could not be filed elsewhere.
Financial services company AMP has lost its bid to de-class representative proceedings brought on behalf of 1.5 million insurance customers.
A former QRx Pharma director’s prediction that shareholders would not receive “anything of consequence” from a class action settlement has proven true, with only a small slice of the $7 million settlement expected to go to shareholders.
After “unavoidable delays”, shareholders will soon be notified of a settlement reached one year ago in a class action against QRxPharma, but a company director has warned group members will receive nothing of consequence and the law firm and funder involved in the case would be disappointed by their takeaways.