South Australian oil and gas firm Beach Energy has been hit with a class action over allegedly misleading earnings projections for its Western Flank oil and gas reserves in the Cooper Basin.
The battle to lead a shareholder class action against Nuix over its $1.8 billion initial public offering is on, with a second class action lobbed that accuses the embattled technology company and underwriter Macquarie of failing to alert shareholders to a slew of “red flags” in the business.
The Australian Securities and Investments Commission has imposed additional license conditions on the Australian Securities Exchange after operational issues created a “very serious” outage last year.
Dairy giant a2 Milk has been hit with a second class action alleging it misled shareholders by providing an overly rosy forecast for its infant formula sales.
The lawyers and funder behind a shareholder class action against Crown Resorts will be asking the court to approve fees and commission worth 35 per cent of a $125 million settlement with the gaming giant, leaving over $81 million for group members.
A judge has directed that the legal fees and funding commission sought to be deducted from a $125 million class action settlement with Crown Resorts be included in a proposed notice to shareholders, after learning that group members were forced to click through to Maurice Blackburn’s website to find the “critical” figures.
Embattled technology company Nuix has been hit with a shareholder class action over its $1.8 billion December float on the ASX.
A judge has given the green light to expanded misconduct allegations in a shareholder class action against IOOF, including claims of insider trading and front-running.
A former partner at accounting firm Pitcher Partners has told a court that he had issues working with Ernst & Young on an audit of law firm Slater & Gordon, calling the Big 4 firm “uncooperative”.
A judge has indicated he will approve the ‘very low’ GetSwift class action settlement because the company appeared to be broke, but the law firm behind the case has been pulled up by the court for a previous costs estimate that has blown out by $3 million.