A judge has signed off on a $125 million settlement to resolve a shareholder class action against Crown Resorts over disclosures relating to its Chinese gambling operations, but has shaved $1 million from the funder’s proposed commission.
US institutional shareholders who joined a class action against Crown Resorts that settled on the eve of trial for $125 million are urging the Federal Court to slash the funder’s commission by $4.65 million.
A judge has approved a 40 per cent group costs order for the law firm that’s running a class action against KPMG and former directors of collapsed mining company Arrium, the highest approved since the state began allowing lawyers to earn a cut of class action awards.
A judge has slapped Trivago with $44.7 million in penalties for a “startlingly misleading” rankings system used on its travel comparison website from which it reaped $53 million.
The consumer watchdog is challenging a court ruling that found Mazda’s treatment of customers with defective vehicles was “appalling” but did not amount to unconscionable conduct.
The Australian Grand Prix Corporation has been sued by a UK entertainment company alleging the COVID-19 related cancellation of the 2020 Melbourne Formula One led to $8.7 million in losses after a related a concert featuring superstar Robbie Williams was also scrapped.
A case before the Full Court that will revisit the question of whether class actions are managed investment schemes may not resolve all of the funding controversies that have emerged in a class action against franchise giant Retail Food Group, a court has heard.
Peters Ice Cream has been hit with a $12 million penalty after admitting to entering an anti-competitive exclusive agreement for distribution of its single serve ice creams to service stations and convenience stores across Australia.
Telstra is partially liable for a $2.6 million telecommunications bungle that “caused several catastrophic crashes” and slashed the calling capacity of a Melbourne-based telemarketing business by more than 60 per cent.
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.