Lendlease and other major builders have secured a significant victory in a long-running case brought by the liquidators of failed engineering company Hastie Group, with a judge saying Hastie wasn’t entitled to the proceeds of bank guarantees withdrawn by the builders when it collapsed 10 years ago.
Two class action firms have refused to provide an undertaking that would fix the rate of their contingency fee in a consolidated shareholder class action against food company Noumi and auditor Deloitte over $590 million in accounting irregularities.
In a boost to shareholder class actions, the High Court has dismissed an application by engineering services firm Worley to appeal a finding that companies should disclose to the market forecasts that ought reasonably to have been held.
A judge weighing a $29.5 million settlement in a class action against recycling company Sims Limited has questioned the court’s power to vary the funding agreement between the applicant and funder, which seeks to pass on its insurance costs to group members as well as recoup costs and earn a commission.
US medical device manufacturer Boston Scientific has withdrawn a controversial gag clause from of its $105 million deal to settle a class action by women allegedly injured by pelvic mesh devices after a judge raised concerns about its legality.
The judge overseeing a class action against US medical device maker Boston Scientific is considering appointing a contradictor to look over the $105 million settlement reached in the case, despite seeing no obvious obstacle to approving the deal.
The funder and law firm running a shareholder class action against recycling company Sims Limited are seeking more than 57 per cent of a $29.5 million settlement for commission and costs, including an insurance policy to cover the risks of losing the case.
Recycling company Sims Limited will pay $29.5 million to settle a shareholder class action alleging earnings guidance for FY16 failed to account for the likely prospect of falling scrap metal prices.
Settlement talks in a class action on behalf of women injured by allegedly defective pelvic mesh products have failed after Astora Health took a long-standing $27 million settlement offer off the table.
Settlement talks in three class actions on behalf of women injured by allegedly defective pelvic mesh products have progressed “substantially”, a court has heard.