Clive Palmer has lost a fight to stay criminal proceedings alleging his company breached takeover laws, with a judge slamming the Queensland mining tycoon’s claims the charges were politically motivated and saying there was “nothing exceptional” to warrant interference from the court.
An appeals court has shut down a case brought by investment adviser Deep Investments against a solicitor and six others over $10 million in alleged share trading losses, saying the proceedings were an abuse of process.
GetSwift failed to disclose to investors that under an agreement announced with Amazon, the e-commerce giant had no obligation to use the logistics provider for any of its deliveries, according to new court documents filed in the shareholder class action against GetSwift and its founders.
ASIC is seeking approval from the High Court to appeal a judgment that let a former director of Gold Coast finance company MFS Group partially off the hook for $147.5 million in misappropriated funds, saying the High Court needs to clarify the scope of the word “officer” under the Corporations Act.
A judge who signed off on a contested $36.5 million settlement to resolve a $1 billion class action against Slater & Gordon has explained his reasons a year later, saying the “unusual” deal flowed from the law firm’s “dire financial situation”.
JP Morgan, the reported whistleblower behind a criminal cartel case against ANZ, Deutsche Bank and Citigroup over a $2.5 billion share placement, has won its bid to keep documents from a related ASIC probe confidential.
Majority shareholders in MWL Financial have won court approval to bring a derivative suit against US-based Focus Financial Partners over an acquisition gone sour.
In a situation a judge has called “extraordinary and troubling”, Deloitte’s files on failed construction company Hastie — sought as evidence by shareholders in a class action — have vanished from the accounting giant’s locked ‘litigation room’ and are now in the control of a single partner who refuses to return them.
A multi-million dollar settlement has been reached in a shareholder class action against private training company Ashley Services over its $67 million tumble two years ago.
The law firms that challenged a ruling staying their cases against GetSwift gave the Full Federal Court a chance to guide judges managing competing class actions, but they can’t avoid paying their opponents’ legal costs because the court happened to seize the opportunity.