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Activist US short seller Bonitas Research is refusing to participate in legal action brought in Australia by Rural Funds Group, as it continues to press allegations of fraud, which sent the agricultural fund manager’s share price plummeting.
The applicant in a shareholder class action against Iluka Resources can put up security for the company's legal costs by way of two insurance deeds of indemnity, but a bid to use the deeds to replace the $1.25 million it earlier paid in cash security has failed.
The judge overseeing a class action against mineral sands producer Iluka Resources has slammed the submissions from both sides over a bid for an extra $2.6 million in security for costs, calling them “completely out of control” and "totally out of proportion”.
Former Dick Smith executives Nick Abboud and Michael Potts have pointed the finger at the defunct electronics retailer's other directors in response to cross claims by auditor Deloitte, which is named in two shareholder class actions over the company's collapse.
An investigation by the Australian Competition and Consumer Commission has come under fire by the banks and directors targeted in a criminal case over alleged cartel conduct that claim the regulator "contaminated" key evidence and improperly used material supplied by ASIC.
A judge has approved a common fund application in a class action against two IAG entities over add-on insurance said to be worth up to $1 billion, saying it was only fair to make all group members pay to fund the litigation.
The plaintiffs in one of two shareholder class actions brought against troubled sandalwood producer Quintis have complained about potential delays that could result from the “overly complicated loss theory” being advanced in a parallel class action.
A shareholder class action against mineral sands producer Iluka Resources has locked in litigation funding, ending months of uncertainty about the fate of the proceedings.
Six individuals interviewed by ASIC in relation to the collapse of sandalwood producer Quintis have sought leave to intervene in the regulator's case against the company's founder, Frank Wilson, after he sought discovery from ASIC of interview transcripts.
A judge has questioned a common fund application in a class action against two IAG entities over allegedly worthless add-on insurance, saying there may be a "degree of chaos" if the order was approved only to be undone by a pending High Court decision.