A judge has signed off on the discontinuance of two class actions against Canberra property developers for allegedly misleading investors about GST on their apartments, after the High Court declined to review a ruling that made the cases “uneconomic” for the funder to pursue.
Failed neobank Volt is facing an investor class action investigation over representations made in a series of funding rounds that raised $219 million before announcing last week that it would shut its doors.
Melbourne-based aged care facility St Basil’s has been hit with nine charges by the state’s workplace safety watchdog over a COVID-19 outbreak that resulted in 45 resident deaths.
Litigation funder Embedded Claims has filed court proceedings against one of its shareholders after its former bankrupt director “ineffectively” transferred off half of his shares.
A judge has signed off on a $4.7 million settlement in two investor class actions against collapsed sandalwood producer Quintis, two year after an earlier settlement was scuttled as group members kicked off an insurance dispute in pursuit of a better return.
The lead applicant in an unsuccessful class action over the Carwoola bushfire has avoided indemnity costs sought by insurer CGU and has won a 40 per cent reduction in the amount of legal costs it will have to cover for the defendant.
A judge has tossed a class action brought by a self-represented applicant against Wilson Security, saying class actions should not be run without lawyers.
A litigation funder has reaped $7.5 million from the sale of a 20 per cent stake in a shareholder class action against the Commonwealth Bank of Australia over the bank’s allegedly lax money laundering compliance.
Virgin Australia has been ordered to disclose whether its insurer has agreed to indemnify it for any liability it may have in a shareholder class action over a prospectus for a $324 million capital raising just months before it filed for administration.
A litigation funder facing a lawsuit by the lead applicant in a settled class action it financed has won its bid to transfer the case to the Federal Court, where the class action was heard, after a judge said it was the “natural forum” for the dispute.