Recent changes to the law requiring funded class actions to be registered as managed investment schemes have complicated the question of how best to resolve the multiplicity issue in two class actions brought against Freedom Foods and Deloitte.
A judge overseeing a case brought by the former boss of Nuix has taken the embattled technology company to task for failing to comply with court orders that it file evidence by the end of last week.
Boral has denied that shareholders bringing two class actions against it over financial irregularities in its North America windows business suffered any loss, saying that its systems helped spot and prevent the financial manipulation from continuing.
A dispute over redactions in books and records produced by defunct fund manager Blue Sky to a prospective class action applicant should be hashed out within the class action, a judge has found.
A firm created by solicitor Mark Elliott as a vehicle to launch shareholder class actions has been taken to court by Myer over an unpaid $1.4 million legal bill racked up in defending a class action that was thrown out as an abuse of process.
Shareholders of the collapsed Babcock & Brown have failed in their challenge to a ruling tossing their cases for damages for disclosure breaches during the global financial crisis, with an appeals court finding the investors had not shown the breaches caused any loss.
The applicant in a class action against PricewaterhouseCoopers over a $50 million bond prospectus for asset finance lender Axsesstoday has dropped claims accusing the accounting giant of being involved in the company’s alleged misrepresentations.
A shareholder class action against defunct fund manager Blue Sky Investments and others will be filed by the end of the year, Lawyerly has learned.
Reforms by the Morrison government passed earlier this month weakening continuous disclosure obligations will spur corporate defendants to engage in “expensive interlocutory warfare” to shut down class actions right off the bat, and plaintiffs lawyers are waiting to see how the courts interpret the new laws to determine these early strike-out fights.
Worley’s increases to a budget behind an allegedly misleading 2014 earning guidance, amounting to $1.14 million, were a “drop in the ocean”, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.