A class action against Fogo Brazilia and its law firm will be shut down if the lead franchisee fails to find $2.9 million in security for the restaurant chain’s costs.
A class action against restaurant chain Fogo Brasilia and its law firm alleging franchisees were misled about the profitability of their businesses could be shut down, with the lead plaintiff unable to pay security for costs after the funder pulled out, a court has heard.
Mayfair 101’s James Mawhinney has defeated bankruptcy action by the owner of marketing firm 360 Degree Media, who claimed the founder of the beleaguered wealth management business owed him $3.5 million.
A funder that was bankrolling a class action against restaurant chain Fogo Brazilia alleging it misled franchisees about the profitability of its businesses has “pulled the pin” on the case, with the law firm running the proceeding agreeing to act on a no win, no fee basis.
The Australian unit of drug giant Mylan has triumphed in a dispute with Australian Taxation Office, with a judge finding the ATO’s assessment for 2020 was “excessive” with respect to interest on loans to fund Mylan’s $1.2 billion acquisition of generic drug maker Alphapharm.
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.
A court has approved a $26 million settlement in the long-running class action against cruise operator Scenic Tours, with $7 million earmarked for litigation funder Legal Justice.
Cruise operator Scenic Tours has agreed to settle a long-running class action with travellers who were promised a “once in a lifetime cruise along the grand waterways of Europe” but were instead forced to take the bus, after almost ten years of litigation that went all the way to the High Court.
A judge overseeing two 7-Eleven class actions has signed off on $2.25 million in costs incurred by the funder and lawyers in their pitched battle to win approval for the terms of a $98 million settlement, which included deductions of more than $44 million to cover commission and fees.
A judge has ruled Scenic Tours can cross-examine class action members without seeking approval from referees, who will oversee a process for assessing amounts owed to them, after the tour operator mostly lost its appeal of a judgment that put it on the hook for damages to disappointed cruise goers.