Shareholders in a class action against Sirtex have secured an order forcing the life sciences company to notify them of any plan that would see its $128 million in liquid assets drop below $80 million.
The former CEO of biotech company Sirtex Medical has been charged with insider trading.
Shareholders in a class action against Sirtex Medical have lost a bid for an order preventing the life sciences company from quietly moving $128 million in cash assets out of the country after its $1.9 billion takeover by a Chinese private equity company comes into effect Thursday, but the battle over the money will likely continue.
A Federal Court judge has criticised Volkswagen for being “uncooperative” in refusing to tell the court who authorised the defeat device at the heart of the auto giant’s diesel emissions cheating scandal.
Six major car companies indicated Tuesday they were open to a quick settlement of class actions brought on behalf of potentially hundreds of thousands of Australian drivers whose cars were fitted with defective and deadly Takata airbags.
The amicus hired to assess the funder’s cut of a potentially record settlement in several class actions against S&P Global over toxic financial products has told the judge that if he’s considering approving a funding equalisation order, he should “start with a blank piece of paper” in calculating a reasonable funder’s commission.
The judge weighing a record settlement in multiple class actions against S&P Global over toxic financial products said Tuesday there was “no way” he would sign off on the deal while it stipulated that all funds be returned to the ratings agency in the event the settlement amount is disclosed.
The judge who stayed two of three competing class actions against logistics software company GetSwift wants to square away a common fund order in the winning case before an appeal of his ruling is heard, over the protests of the appealing law firms.