A funder that was bankrolling a class action against restaurant chain Fogo Brazilia alleging it misled franchisees about the profitability of its businesses has “pulled the pin” on the case, with the law firm running the proceeding agreeing to act on a no win, no fee basis.
The Chief Justice of the NSW Supreme Court has expressed concerns about a “slide in public respect” for institutions such as the court and the creeping phenomenon of “truth decay”.
A decision awarding carriage to Gilbert + Tobin in a class action against Jaguar Land Rover on the condition that it lower its funding rate lacked procedural fairness, the Full Court has found, prompting the firm to team up with its competitor to run the case.
An appeals court has dismissed an environmental advocacy group’s challenge to the extension of two Mach Energy and Whitehaven Coal mega coal mines in NSW, saying the current environmental laws are “ill-suited” to dealing with the global threat of climate change.
Four insurers have agreed to fork over $1 million to settle an investor class action against lender Axsesstoday over an allegedly misleading prospectus for a bond offering, while claims against PricewaterhouseCoopers will move forward.
Billabong founder Gordon Merchant has lost his challenge to a decision by the ATO to increase his tax liability to $31 million, finding that he conducted a “wash sale” of his Billabong shares and engaged in dividend stripping on the sale of bio plastics manufacturer Plantic Technologies.
A judge that tossed two shareholder class actions against the Commonwealth Bank of Australia has found the bank did not have to alert investors to the possibility of AUSTRAC proceedings, saying investors did not expect to be apprised of the “toings and froings” of regulatory investigations.
The High Court has been asked to overturn a NSW Court of Appeal decision finding it had no power to exclude unregistered group members from a settlement, which conflicted with Federal Court precedent, hearing the divergence of the important issue “can only be resolved by the High Court”.
Optus has denied that it ‘cloaked’ the true dominant purpose of a Deloitte report into a major data breach in 2022, arguing on appeal that the report was privileged and that a class action should not have access to it.
A former HWL Ebsworth client has lost his argument that the firm must reimburse him for $22.8 million in expenses and interest after a judge found the law firm was negligent in advising on a joint venture contract for a Sydney land development, which allegedly lost him $130 million.