As two class actions against Harvey Norman try to hash out a deal before competing to run the litigation, a judge has issued a warning to other law firms mulling their own actions.
With its new business model of self-funding class actions, Maurice Blackburn can’t get by with an undertaking to indemnify Macquarie for its costs if a case over flex commissions fails.
Applicants in two dismissed class actions against the Commonwealth Bank have secured an order staying an assessment of costs in the failed cases until the outcome of an appeal.
Two failed shareholder class actions against the Commonwealth Bank of Australia want to delay paying the bank’s costs until after their 62-ground appeal is heard.
A judge has criticised the pleadings in class actions against ANZ, Macquarie and Westpac over flexible commission schemes for car dealers, saying they were “inappropriate and unhelpful” in referring to documents in the banking royal commission.Ā
Banks targeted in long-running class actions over flexible commission schemes for car dealers are resisting the plaintiffsā bid to amend their pleadings to āget aroundā the defence that certain claims are time-barred.
Generic drug maker Mayne Pharma has resolved a shareholder class action centred on disclosures connected to price-fixing claims by US regulators.
Shareholders of Commonwealth Bank have lodged expected appeals challenging a decision tossing their class actions over alleged lax money laundering compliance, giving the Full Federal Court a chance to clarify when companies must disclose regulatory investigations.
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.
Two class actions have failed to convince a judge that the Commonwealth Bank of Australia’s money laundering compliance failure which led to a $700 million penalty was “law breaking on a grand scale” that should have been disclosed to the market, the latest shareholder case to flop after being taken to trial.