"...does anyone have any updates?"This is from the most recent order on the NSW Supreme Court Website dated 15 May 2020..
"1. The first defendant is to provide discovery of the categories of document set out inAnnexure B to the agreed Document Plan (being Annexure A to the Orders) in the followingtranches:
(a) Categories 2,3,4,5(a), and 7 on or before 29 May 2020, save for documents in thosecategories that are also within the categories referred to in order 1(b) below;
(b) Categories 1,5(b) and 6 on or before 6 July 2020.
2. The plaintiffs are to serve any expert evidence upon which intends to rely by 23 October2020.
3. Matter is stood over for directions to 6 November 2020"Basically, the ball is now with the plaintiff's to assemble and lodge the evidence that they intend to rely upon.
You can read all the court material for yourself here.
http://www.supremecourt.justice.nsw.gov.au/Pages/sco2_classaction/Solar-Farms-Class-Actions.aspxAs for Oscar09's thought in the preceding post that aggrieved share holder should get together and run their own action, that overlooks one vital point. Post #: 46276379
The vital point is that the plaintiffs are liable for the costs of the defendants if the plaintiff's action does not succeed or is abandoned.
In a class action, that risk is typically taken on by the litigation funders, which is why they want their pound of flesh out any successful recovery.
The court may require that the plaintiff lodge funds with the court to cover the defendant's costs in the event that the plaintiffs are not successful.
For example, this is one such installment that was required in this case in the court order dated 5 Jun 2019.
"Within 14 days of these orders being made, the plaintiffs are to provide security for costs in the amount of $100,000 in respect of the third defendant's costs of the Initial Stage of the proceedings."
Cheers
