Deloitte has won its bid to keep confidential documents away from the funder backing a consolidated shareholder class against food company Noumi which alleges the auditor was complicit in misleading the market.
A fight over a global privilege claim by Noumi has been foreshadowed in a consolidated shareholder class action against the food company, formerly Freedom Foods.
Mayfair Group’s James Mawhinney has given an undertaking to not contact group members in a class action against a trustee of the collapsed IPO Wealth fund after allegedly urging investors, through a PR firm, to reject a settlement offer.
Investors in Mayfair Group’s collapsed IPO Wealth Fund stand to recoup “a lot less” than their alleged $67 million in losses from a settlement in a class action alleging the fund’s trustee misled the unit holders — but they will take home 75 per cent of the resolution sum, a court has heard.
A judge overseeing a shareholder class action against Crown Resorts has ordered the casino giant to give details of board members’ knowledge about two bank accounts which were allegedly used to launder hundreds of millions of dollars.
A judge has signed off on a $125 million settlement to resolve a shareholder class action against Crown Resorts over disclosures relating to its Chinese gambling operations, but has shaved $1 million from the funder’s proposed commission.
US institutional shareholders who joined a class action against Crown Resorts that settled on the eve of trial for $125 million are urging the Federal Court to slash the funder’s commission by $4.65 million.
The trustee of Mayfair Group’s collapsed IPO Wealth Fund has reached an in-principle settlement in a class action alleging it misled investors, who lost $86 million when the fund was wound up.
A judge overseeing a joint class action against Freedom Foods and Deloitte wants to break a bad habit among litigators of attaching to affidavits reams of correspondence between solicitors, and she has a message for legal practitioners — the court is not interested in what lawyers say to each other.
The liquidator of collapsed vocational education provider Careers Australia can serve its lawsuit on two of the company’s former directors now living overseas, after a judge found a prima facie case of insolvent trading and breaches of directors duties had been made out.