A judge has signed off on a settlement in two shareholder class actions against clothing retailer Surfstitch, but has capped the legal costs and commissions sought by the litigation funders after finding the law firms behind the cases sent out notices to group members that were “misleading” and “understated” the risks of joining the class.
GetSwift has been criticised for its “quite unfair attack” on a Federal Court judge who refused to disqualify himself from hearing a shareholder class action against the logistics software company after presiding over ASIC’s civil penalty proceeding against the company.
Arnold Bloch Leibler has hit back at a class action by Slater & Gordon shareholders accusing it of misleading and deceptive conduct and breaching its duty of care by greenlighting the law firm’s $1.2 billion acquisition of Quindell, filing cross-claims against Slater & Gordon and two of its former directors.
Former solicitor general Justin Gleeson SC has been appointed contradictor in GetSwift’s battle to have the judge overseeing a shareholder class action disqualify himself from the proceedings after overseeing the trial in ASIC’s case against the logistics provider.
A judge has dismissed a lawsuit brought by Arnold Bloch Leibler seeking to use information from its legal work on Slater & Gordon’s $1.2 billion acquisition of UK firm Quindell to defend itself in a class action brought by the plaintiffs firm’s shareholders.
Professional services firm EY UK has been added as a respondent in a shareholder class action against Pitcher Partners over advice given to law firm Slater and Gordon in its disastrous $1.3 billion acquisition of the UK-based Quindell in 2015, almost two years after the class action was filed.
ASIC and the applicant in a class action against GetSwift have intervened in an application by the logistics provider to relocate its headquarters to Canada, aiming to ensure shareholders are aware of the potential outcomes of the regulator’s enforcement action, which include banning orders against directors Bane Hunter and Joel Macdonald.
ASIC’s case against GetSwift and its founders Joel Macdonald and Bane Hunter makes accusations against both directors but relies on alleged conduct by only Hunter, a lawyer for Macdonald has told a court on the last day of trial in the corporate regulator’s case.
GetSwift is keeping up its fight to have the judge overseeing a shareholder class action disqualify himself from the proceedings after overseeing the trial in the corporate regulator’s case against the logistics provider.
GetSwift has promised the Federal Court that it will inform the lead applicant in a shareholder class action if any of its assets are to be transferred outside of Australia, after the applicant raised concerns about the logistics company’s proposed relocation to Canada.