Law firms running competing shareholder class actions against a2 Milk appear to have reached agreement to join forces, with a court order Thursday scrapping a contest to determine which case would proceed alone.
Calling it the âelephant in the roomâ, a judge overseeing a class action against Tyro over a major EFTPOS outage last year has said a dispute over who is eligible to join the case needs to be hashed out before retailers are notified of the proceedings.
Investors have lost their class action against Perth-based Iluka Resources, the latest shareholder class action to fail after pushing through to trial.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion’s share, with $672 million in settlements under its belt.
A âfull-blooded carriage fightâ is set down for next year between two competing class actions alleging dairy giant a2 Milk misled shareholders with an overly optimistic prediction of its infant formula sales.
The solicitor behind the successful challenge to the claim for ill-gotten spoils by the Banksia Securities class action legal team says he draws little comfort from the conclusion by the judge who strongly condemned the misconduct that the legal system is capable of regulating itself. More needs to be done to root out the systemic causes of the arrogance on display in the case, he says.
Insurers are misleading policyholders about class actions which seek compensation for those denied business interruption coverage for COVID-related shutdowns, a court has heard.
New requirements that funded class actions be run as managed investment schemes will throw up myriad new questions for the courts, with lawyers predicting novel challenges by defendants and group members and an altered landscape for competing class actions.
Insurance broker JLT Risk Solutions has opposed an application by a group of NSW councils to add misleading and deceptive conduct allegations to a long-running class action, claiming the changes would force the vacation of a five-week trial due to start in October.
A judge has signed off on a proposal by two law firms to jointly run a consolidated class action against Allianz over add-on car insurance, shooting down the insurer’s argument that a beauty contest would promote competitive contingency fee rates.