Worley’s increases to a budget behind an allegedly misleading 2014 earning guidance, amounting to $1.14 million, were a “drop in the ocean”, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.
A judge has dismissed two cases brought by the Commonwealth Bank, Westpac and other lenders against directors of the failed steel giant Arrium, saying he was not satisfied the directors’ representations on loan drawdown notices were false or that the company was insolvent when it went into voluntary administration in April 2016.
Worley crafted the budget behind an allegedly misleading 2014 earnings guidance so that its shares could be rated as a “growth stock”, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.
A judge has allowed a new applicant to lead a shareholder class action against recycling company Sims Metal Management, ruling that he could not force the original applicant to continue in the role when it wanted to back out.
Service station giant Ampol has lost its bid to force petrol station chain EG Fuel Co to allow it access to 87 Caltex sites so they can be rebranded to Ampol stations, with a judge finding it would cause EG “obvious disruption”.
Swiss pharmaceutical company Biogen has filed another lawsuit accusing an Australian generic drug manufacturer of infringing the patent for its blockbuster multiple sclerosis drug Tecfidera.
The judge overseeing class actions against Commonwealth Bank over its money laundering compliance failures has threatened to force the parties to go to trial by a certain date if they can’t agree to “sensible” time limits to ready the case for hearing, noting he would reach retirement age in 2024.
The funder backing a class action accusing two energy generators of gaming Queensland’s energy prices wants the Full Court to find the landmark Brookfield Multiplex ruling, which held that a litigation funding arrangement for a class action was a managed investment scheme, was wrongly decided.
A landmark ruling on a bid for a contingency fee in a class action is close, a judge said Tuesday as she heard argument in a class action against Treasury Wine Estates on whether an opt out notice should be sent to shareholders ahead of a group costs order.
The Full Court should determine whether a class action accusing two state-owned energy generators of gaming Queensland’s energy pricing system needs to comply with regulations requiring litigation funders to register class actions as managed investment schemes, a court has been told.