A barrister for a class action against Radio Rentals has told the Federal Court the company’s “strange” lease contracts may have been worded solely to avoid its obligations under the Uniform Consumer Credit Code.
A judge has given the green light to a settlement of seven class actions against ratings agency S&P Global over toxic financial products, saying despite an “extraordinarily large” litigation funding fee the deal was a “significant vindication” of group member claims.
Mining giant BHP Billiton has reached a $50 million deal to settle the US class action over the 2015 dam failure at the Samarco mine in Brazil.
Iluka Resources has shot back at claims in a shareholder class action that it made misleading statements about projected sales volumes, saying the statements were accompanied by extensive disclaimers about its ability to predict future sales.
The lead applicant in an investor class action against Fitch Ratings will get its hands on internal reports detailing why the agency assigned a Triple A rating to Sigma Finance Corporation ahead of its 2008 collapse, and whether it could have predicted the fall of the $27 billion investment fund.
In a case that hinges on the evidence of expert witnesses, the judge overseeing the class action over the 2011 Queensland floods has partly upheld an objection to a revised report by the state of Queensland’s expert regarding an error in the flood-modelling by the plaintiff’s expert witness.
Myer had an obligation to correct remarks by former CEO Bernie Brookes in 2014 that the department store expected increased profits the following year, because there was no reasonable basis for the statement, a court heard Wednesday at the start of trial in a shareholder class action alleging the company breached its disclosure obligations to the market.
Eclipx group is looking at a possible shareholder class action following recent drops in its share price after it disclosed that its published profit growth forecasts need to be revised downwards.
The Full Federal Court expressed doubts Tuesday about an “unusual” and “heavy handed” order restraining lawyers leading the stayed class actions against GetSwift from advising their clients about whether to opt out of the prevailing action.
The “highly-controversial” battles over multiple class actions against AMP and GetSwift are just two cases in a decades-long history of class action proceedings and should not be the basis of any proposals to fix perceived gaps in courts’ powers, plaintiffs firm Slater & Gordon said Tuesday.