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A judge has approved a $22.5 million settlement in a class action against two former CBA wealth management units, under which group members will receive just $5.12 million and the lawyers and funder will receive the lion’s share.
Commonwealth Bank and its former wealth management arm Colonial First State have agreed to pay $249 million to settle a class action worth $900 million that would have tested a novel theory of corporate responsibility with implications for companies’ use of AI.
The funder that bankrolled a settled shareholder class action against directors of collapsed mining company CuDeco and KPMG may face a haircut to its proposed 35 per cent commission after a contradictor was appointed to scrutinise the reasonableness of the rate.
A judge will approve deductions that will leave less than half of a $22.5 million class action settlement against two former CBA wealth management units left over for distribution to group members.
The litigation funder that backed a recently settled shareholder class action against the directors of collapsed mining company CuDeco and KPMG will seek a 35 per cent cut from the settlement.
A shareholder class action against former directors of collapsed mining company CuDeco has settled on the eve of trial, a year after KPMG reached a settlement.
A former EY partner has lost his appeal in a fight with National Tiles over an alleged $1 million lost opportunity to acquire shares, despite the court finding the tiling retailer breached the cooperation terms of the agreement.
After pocketing a partial settlement in the case, the funder behind a class action over the collapse of mining company CuDeco has copped criticism by a judge for defaulting on orders for security for defence costs.
A judge has approved a $67 million settlement in a class action against QSuper but has trimmed the payout for the litigation funder, criticising it for a "brazen and unjustified" deduction that was dropped during the hearing.
A contradictor has recommended the court trim $3 million from a funder's cut of a $67 million settlement in a class action against QSuper, saying the court should not allow 'double dipping' given the funder was shielded from some risk by ATE insurance.