Phi Finney McDonald will amend its funding agreement with Therium in a shareholder class action against Boral after a judge found that an irrevocable opt out provision placed the law firm in a “manifest position of conflict”.
A judgment in a heated carriage fight between three class actions against construction giant Boral provides some guidance to law firms about conduct that could potentially compromise their case for why they should be crowned the victor in a class action beauty parade.
The law firm running its class action on a no win no fee basis has been crowned the winner in a battle against two competing firms to lead a shareholder class action against construction giant Boral, in the first such judgment handed down in the wake of a High Court ruling on competing class actions.
A fight between three leading class action firms over who will lead a potentially lucrative shareholder class action against construction giant Boral is back on, after the High Court pressed go on class action beauty parades.
Two insurance brokers have dodged being dragged into class action proceedings against sandalwood producer Quintis to boost a settlement reached last year, as a fight over insurance owed to the company to cover the settlement continues.
Payouts in class actions in 2020 largely kept pace with the previous year despite the financial strain of the COVID-19 pandemic, with companies and other defendants paying more than $696 million to settle class actions last year.
Properties near seven air force bases where allegedly toxic firefighting foam was used experienced a drop in land value because of the “stigma” of contamination, according to an expert report accepted by the Federal Court in a class action seeking compensation from the Federal government.
Facing an ASIC enforcement action over alleged breaches of Australian credit laws, payday lenders BHF Solutions and Cigno claim they did not need a licence to issue loans to hundreds of thousands of consumers.
Maurice Blackburn is pushing back against an appeal by Treasury Wine Estates, which accuses the law firm and a barrister of breaching their obligations by using evidence discovered in a settled class action to launch a second case against the wine maker.
Construction giant Boral must now contend with three class actions by shareholders alleging it failed to disclose financial problems with its US windows business, but the cases will stay on ice pending a High Court challenge.