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A class action against Virgin Australia has become a lawyers’ feast, with seven new firms entering the ring after a dozen insurers were joined to the action alleging the airline failed to disclose its true financial position in a $324 million capital raising prospectus.
A Blue Sky director has pointed the finger at auditor Ernst & Young in a class action alleging the collapsed investment firm misled shareholders by misstating its assets under management.
A judge has refused a lead applicant’s novel bid for financial information to use at settlement discussions in a group proceeding against Dixon Advisory.
SkyCity has set aside $45 million for its legal costs and a possible penalty in AUSTRAC proceedings alleging it allowed $4 billion in suspicious transactions at its casino.
Class actions throw up all manner of ethical conundrums, but a recent Federal Court decision has shined a light on the question of whether funders and law firms should take out loans to run class actions and whether they can charge the costs to group members.
Shine Lawyers has lost its bid to recover $32 million in interest on a loan it took out to run two pelvic mesh class actions against Johnson & Johnson, with a judge finding it would make a “marginal settlement less than reasonable”.
The Australian Broadcasting Corporation has defended its reporting of alleged war crimes in a defamation case by ex-commando Heston Russell, saying the debate over whether its stories were in the public interest “rises well above truth”.
Auditor Ernst & Young has filed cross-claims against Blue Sky in a shareholder class action accusing the collapsed investment firm of misleading shareholders by misstating its assets under management.
A source for ABC articles over alleged war crimes that are at the centre of a defamation case by ex-commando Heston Russell told reporters his memory of the events was "hazy", a court heard Friday.
A judge overseeing four COVID-19 business interruption class actions has questioned a decision by insurers to use ten test cases to resolve the issue of whether they had to indemnify policyholders instead of a class action, which would have been binding.