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A judge has appointed a contradictor for an upcoming settlement approval hearing in a class action by financial advisers against AMP over its buyer of last resort policy, saying the funder was taking a “very large” cut of the $100 million settlement.
Companies and government entities paid out less to settle class actions in 2023 than in the previous two years, with no mega settlements hitting their pocketbooks.
AMP has agreed to pay $100 million to settle a class action by financial advisers over its buyer of last resort policy, after suffering a loss at trial.
AMP and a group of financial advisers in a class action over changes to the firm's buyer of last resort policy have agreed to another round of mediation, even as the wealth manager appeals a judge's liability finding.
AMP has appealed its loss in a class action over changes to its buyer of last resort policy, under which the wealth manager slashed the amount it would pay financial advisers for their books of business.
The lead applicant in a class action against AMP Financial Planning on behalf of 542 advisers has won $813,000 in damages after a judge found it could not retreat from a promise to buy back adviser businesses at four times their revenue.
A judge has stayed an Australian lawsuit filed by food delivery service HungryPanda against competitor Fantuan over the acquisition delivery platform EASI until a related UK lawsuit is resolved, amid a fight for control of the local Asian food delivery market.
Investment manager Payton Securities has lost a bid to recoup claimed losses over $1.4 million stemming from an allegedly negligent property valuation by Bertacco Ferrier, with a judge finding that the company had not retained the valuer and was not a party to the valuation.
Advice from non-lawyers and "routed" through a legal practitioner at multidisciplinary partnership PricewaterhouseCoopers cannot be shielded under legal professional privilege, the Federal Court has found.
A judge has rejected the Australian Taxation Office's claim that legal professional privilege does not apply to any communications between PricewaterhouseCoopers and its client, meat processor JBS, but has found that many of the reviewed documents do not satisfy the test of privilege.