Logistics company GetSwift and its directors are appealing a win for ASIC in the regulator’s case that alleged they breached their continuous disclosure obligations and engaged in misleading and deceptive conduct in the release of 22 ASX announcements.
A funder that’s helping foot the bill in a class action against Arrium’s former directors and KPMG may withdraw support if the law firm that’s running it is not granted an order awarding it 40 per cent of any award or settlement.
Virgin Australia is facing a shareholder class action investigation over representations made in a 2019 prospectus for a capital raising to fund its $700 million acquisition of the Velocity loyalty program, issued six months before the airline filed for administration.
BHP Group has been granted special leave from the High Court to appeal a ruling that rejected its bid to exclude foreign investors from a shareholder class action over the 2015 Fundao dam disaster.
A new funder is backing a shareholder class action that will be brought against Australian regenerative medicine company Mesoblast over disclosures related to its Remestemcel-L treatment for COVID-19 complications.
A settlement in a shareholder class action against GetSwift has collapsed as the logistics company seeks to secure financing to keep it afloat and pay the final portion of the deal’s $1.5 million cash component.
Lawyers leading a class action against the Commonwealth Bank over its alleged money laundering compliance failures are getting their ducks in a row in the event the Full Court rules the court has the power to shut out unregistered group members from a class action.
In a boost to securities class actions, the High Court has ruled that directors of collapsed companies can be subjected to public examination by shareholders wanting to bring civil proceedings.
The Federal Court’s recent dismissal of a class action against Iluka Resources provides assurance to companies and their D&O insurers that shareholder class actions are not necessarily merely a cheque writing exercise and that robust defences will be accepted by the courts, says Clyde & Co partner Patrick Boardman.
A settlement agreement in a shareholder class action against GetSwift may be scrapped as the applicant seeks more information as to whether the logistics company is solvent or about to go under.