A judge has warned counsel leading a shareholder class action against logistics provider GetSwift that “real persuasion” would be needed to convince him to allow the class to expand its case two months out from trial.
A former director of GetSwift has given evidence at trial in ASIC’s case against the logistics provider that the company drafted a correction to a misleading ASX announcement about a deal with fruit and milk delivery provider Fruit Box but never released it.
A judge has dismissed a defensive bid by ASIC to amend its case against GetSwift mid-trial, instead calling on “common sense” to be injected into the proceeding as the hearing enters its second week.
A judge has criticised the parties for failing to comply with orders made in a class action against Toyota over allegedly defective filters in the car giant’s diesel models, and spent half his weekend preparing new orders for both sides.
GetSwift “sat on” an announcement about a lucrative deal with US-based automotive sales and marketing firm N.A. Williams for more than three weeks, then leaked the news to the media before announcing it on the Australian Stock Exchange, ASIC has told the Federal Court on day two of a trial in the corporate regulator’s case against the logistics tech company.
Émails show the directors of logistics company GetSwift took a “deliberate approach” to inflating the company’s share price through a constant supply of positive ASX announcements about new multimillion-dollar contracts, ASIC said on the first day of a highly anticipated five-week trial.
A court has dismissed a “harsh and draconian” class closure order sought by German cladding manufacturer 3A Composites in a class action against it over allegedly combustible cladding.
Logistics company GetSwift and its directors have failed in a bid for a year-long delay of a trial scheduled to start next month in ASIC’s case alleging breaches of the Corporations Act, despite arguing that the procedural unfairness of a remote hearing gave the regulator a leg-up over the US-based company.
German cladding manufacturer 3A Composites is pushing forward with a bid to close a class action over allegedly combustible cladding to registered group members, arguing that a recent appeals court decision does not bar class closure in this case.
A contest of two competing shareholder class actions against Westpac over millions of alleged anti-money laundering breaches has ended with one law firm and its funder bowing out.