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Bannister Law has stepped down from leading a shareholder class action, the second major class action the firm has recently handed over to a rival firm without explanation.
A Dick Smith shareholder has lost his bid to bring a separate proceeding against the failed home goods retailer while two class actions are afoot.
The Full Federal Court has dismissed a challenge to a ruling that chose one of three shareholder class actions to proceed against GetSwift, saying the court had the power to permanently stay competing cases. But an injunction blocking the losing law firms from communicating with clients was going too far, it said.
A groundbreaking judgment by the Full Federal Court over competing class actions will be handed down Tuesday morning and is expected to give judges much needed guidance on how to move forward when confronted, as they increasingly are, with multiple proceedings over the same alleged misconduct.
The Australian Securities and Investments Commission claims Rio Tinto's former CFO was referring to the write down for the reserves for two coal assets that were part of a $4 billion acquisition of Rio Tinto Coal Mozambique when he sent an email to the company CEO in January 2012 that contained the phrase "worse by far than expected".
An attempt by Crown Resorts to block ex-employees from talking to class action lawyers about the casino giant's thwarted business in China was contrary to the public interest, a judge heard Monday.
Retail OTC derivative issuer AGM Markets has had its financial services licence canceled, after ASIC found it engaged in unconscionable conduct and failed to manage conflicts of interest.
Lawyers leading a class action against Quintis want the failed sandalwood oil producer to hand over evidence of any insurance policy that could cover the company and its founder for damages sought in the case.
Bank of Queensland has lost a dispute with two insurers over coverage for a $6 million settlement of a class action brought by investors in a Ponzi scheme by jailed scammer Bradley Sherwin, with a judge shooting down the bank's argument that the class action should only be considered one claim under the policy.
Maurice Blackburn is investigating a possible class action after the share price of Corporate Travel Management plunged 27 percent on Wednesday, and will look at the role of VGI Partners in the sudden stock drop.