The investor behind a failed class action against the Public Trustee of Queensland over the collapse of Octaviar Group has escaped a bid by the Trustee for maximum costs, with a judge ruling the case was not a “nakedly speculative venture” by the funder.
An expert witness in an investor class action against Fitch Ratings over toxic financial products is no expert at all, the lead applicant told the court in contesting the admissibility of the expert’s evidence.
The judge overseeing a class action filed on behalf of business owners over the Sydney light rail construction has cautioned the NSW government against filing a de-class motion, saying a class action may be the “very best thing” for the government.
Liquidators for Dick Smith don’t want potential group members in two class actions against the failed retailer to learn about a new registration deadline by email, saying it would amount to spam and harassment.
The Public Trustee of Queensland asked a court Wednesday for indemnity costs from a global litigation funder its says was the “real moving force” behind a dismissed investor class action it called a “nakedly speculative venture”.
A judge has given the green light to a settlement of seven class actions against ratings agency S&P Global over toxic financial products, saying despite an “extraordinarily large” litigation funding fee the deal was a “significant vindication” of group member claims.
The lead applicant in an investor class action against Fitch Ratings will get its hands on internal reports detailing why the agency assigned a Triple A rating to Sigma Finance Corporation ahead of its 2008 collapse, and whether it could have predicted the fall of the $27 billion investment fund.
The amicus hired to assess the funder’s cut of a potentially record settlement in several class actions against S&P Global over toxic financial products has told the judge that if he’s considering approving a funding equalisation order, he should “start with a blank piece of paper” in calculating a reasonable funder’s commission.
The judge weighing a record settlement in multiple class actions against S&P Global over toxic financial products said Tuesday there was “no way” he would sign off on the deal while it stipulated that all funds be returned to the ratings agency in the event the settlement amount is disclosed.
The firm running the class action against Fitch Ratings over SCDO products has been given the go ahead to add claims of fraud and deceit after lawyers allegedly unearthed a hidden mathematical table the agency used in assigning ratings to the toxic financial products.