Chain logistics company Brambles is facing a second class action alleging it breached its continuous disclosure obligations by failing to revise its overly rosy 2017 financial forecast on several occasions.
A judge has denied a Westpac unit’s bid to strike allegations that it knew about a $1.9 million Ponzi scheme from a class action alleging the bank aided the Ponzi schemer’s illegal conduct.
Embattled financial giant AMP on Tuesday criticised concerns raised by lawyers for the federal class actions about group members’ opt out rights, saying the concerns were a “red herring” in the fight against an order transferring their cases to the NSW Supreme Court.
AMP has slammed arguments that group members in four Federal Court class actions could face a jurisdictional limitation on their claims of disclosure breaches if their cases are transferred to state court, saying no such disadvantage exists.
Ethicon told the Full Federal Court on Monday that the judge overseeing the marathon class action against it over allegedly defective vaginal mesh devices got it wrong when she reset the dates for inclusion in the class.
IOOF subsidiary Australian Executive Trustees wants to expand the cross-claim it filed against insurance broker Willis Australia in the class action over the collapse of Provident Capital, two weeks after AET agreed to fork over $44.25 million to settle the matter.
Pharmaceutical and life sciences giant Bayer is facing a potential class action in Australia over its birth control device Essure, which can allegedly cause nickel poisoning and other severe complications.
Two group members of a resolved class action over managed investment schemes operated by agribusiness Great Southern Group are bound by the settlement deed to repay loans they took out with the Bendigo and Adelaide Bank, despite the severe constraints the settlement placed on individual defences, a judge has ruled.
The Federal Court offers group members in the shareholder class actions against AMP a major legal advantage over the NSW Supreme Court, lawyers for the federal cases have argued ahead of a hearing in the controversial jurisdictional battle.
Slater and Gordon has filed a shareholder class action against Brambles over its allegedly misleading and overly rosy 2017 financial forecasts, beating rival Maurice Blackburn to the punch almost 10 months after it announced it was investigating a shareholder class action against the logistics company.