The settlement of two shareholder class actions against sandalwood producer Quintis has been delayed after the company’s eleventh-hour revelation that it may have an extra $40 million in insurance.
Dairy cooperative Murray Goulburn has launched proceedings against AIG Australia seeking to recover 20 per cent of a $42 million class action settlement it paid, plus the legal costs of defending two class actions.
The Australian arm of global financial solutions provider Pershing faces sentencing after pleading guilty to criminal offences of mishandling client funds.
Personal healthcare giant PZ Cussons has lost its bid for indemnity costs against the ACCC, after claiming that the regulator was “doomed to fail” when it appealed a judgment dismissing its case over an alleged laundry detergent cartel.
The ACCC has come up short in its appeal of a ruling that dismissed its challenge to Pacific National $205 million acquisition of Aurizon’s Acacia Ridge Terminal in Queensland, with the Full Federal Court also releasing Pacific National from an undertaking given to the court.
A closely watched shareholder class action against Myer over an inflated profit forecast from former CEO Bernie Brookes has been dropped, after a court found the retail giant misled shareholders but that they suffered no harm.
An Ashurst partner is at risk of being evicted from his Point Piper home after allegedly refusing to pay a $150,000 special levy.
Treasury Wine Estates is facing the threat of multiple shareholder class actions in the US over a January 2020 profit downgrade that is already at the centre of two class actions filed in Australia.
A decision this week rejecting a proposed common fund order at the settlement approval stage of a class action against teleco Vocus has dashed the hopes of litigation funders that a recent High Court ruling would not foreclose on judges using discretion at the end of a case and will cement a return to bookbuilding and a focus on shareholder class actions by institutional investors.
The Federal Government has released draft legislation laying down protections for those using the COVIDSafe app which include criminal offences for the misuse of data and options for individuals to lodge complaints with the privacy commissioner.