Infant food maker Bellamy’s has agreed to pay $49.7 million to settle two shareholder class actions alleging the company misled investors in 2016 about its China growth strategy and declining infant formula market share in Australia.
Two Westpac units have defended their choice to charge higher superannuation fees, saying in their responses to a Slater and Gordon class action that customers received numerous positive benefits in exchange for the charges.
A hearing for approval of a $190 million settlement in a historic class action over unpaid wages to thousands of Indigenous workers has been adjourned to next month after a judge appointed a referee to scrutinise the fees charged by the law firm behind the case.
The judge overseeing a class action against car maker Ford over its allegedly defective PowerShift transmission has shot down the applicant’s request for additional discovery, saying that after multiple delays in the case “the well has run dry”.
Slater and Gordon is planning class actions against ANZ and Westpac over allegedly worthless insurance, fresh off of winning a $49.5 million settlement in a junk insurance class action against the National Australia Bank.
A judge has consolidated competing shareholder class actions against builder Lendlease brought by rival plaintiffs law firms, but has rejected the firms’ bid to jointly run the litigation and says one of them must go.
A class action against the Federal Government alleging its Centrelink robodebt scheme is illegal was filed this week, as the Department of Human Services announced it would halt recovery of most debts under the scheme.
Shareholders have appealed a ruling that found a “serious problem” with market-based causation and dismissed three cases against the liquidator of failed global financial services firm Babcock & Brown.
Johnson & Johnson did not adequately warn of the risks of its pelvic mesh implants and is liable to pay damages to thousands of Australian women who suffered severe injuries from the devices, a judge has ruled in a long awaited decision in a class action launched more than seven years ago.
Shareholders of collapsed steel and mining giant Arrium have won the OK to question a one-time director over possible class action claims that former officers misled the market and that auditor KPMG was negligent in preparing a healthy financial report just two years before the company went under.