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Sims class action funder, lawyers stake claim to 57% of settlement
Class Actions 2022-07-08 11:32 am By Christine Caulfield

The funder and law firm running a shareholder class action against recycling company Sims Limited are seeking more than 57 per cent of a $29.5 million settlement for commission and costs, including an insurance policy to cover the risks of losing the case.

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Judge approves $4.7M Quintis class action settlement
Class Actions 2022-07-01 10:37 pm By Cat Fredenburgh

A judge has signed off on a $4.7 million settlement in two investor class actions against collapsed sandalwood producer Quintis, two year after an earlier settlement was scuttled as group members kicked off an insurance dispute in pursuit of a better return.

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Funder sells stake in Commonwealth Bank class action for $7.5M
Class Actions 2022-06-30 4:00 pm By Cat Fredenburgh

A litigation funder has reaped $7.5 million from the sale of a 20 per cent stake in a shareholder class action against the Commonwealth Bank of Australia over the bank’s allegedly lax money laundering compliance.

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Albanese government welcomes class action funder’s defeat of MIS regulation
Class Actions 2022-06-17 10:48 pm By Christine Caulfield

The federal government said Friday it would consider the implications of an appeals court’s finding that the managed investment scheme structure was unsuited to class actions, a ruling it said was a victory for ordinary Australians and a vindication for Labor.

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Full Court finds class actions are not managed investment schemes
Class Actions 2022-06-16 10:43 am By Cindy Cameronne

In a significant victory for litigation funders, the Full Federal Court has found that funded class actions are not managed investment schemes subject to regulatory oversight, gutting the legal basis for reforms enacted by the Morrison government in 2020.

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Knives come out in Nuix class action beauty parade
Class Actions 2022-06-16 10:21 pm By Sam Matthews

A victor remains to be crowned following a heated beauty parade between competing class actions against tech company Nuix, with two law firms facing criticism for their “cumbrous” consolidation proposal and a third firm copping flak for its “opaque” financials.

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Quintis investors to get $4.7M in class action settlement, court told
Class Actions 2022-06-14 2:51 pm By Cindy Cameronne

Two years after an insurance dispute scuttled a proposed settlement, group members in two class actions against sandalwood producer Quintis are set to receive $4.7 million in a settlement with the defunct company.

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Sims settles shareholder class action for $29.5M
Class Actions 2022-06-10 9:43 am By Christine Caulfield

Recycling company Sims Limited will pay $29.5 million to settle a shareholder class action alleging earnings guidance for FY16 failed to account for the likely prospect of falling scrap metal prices.

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Judge allows report denying PFAS link with immunosuppression in contamination class action
Class Actions 2022-06-10 7:02 pm By Sam Matthews

A class action alleging the federal government contaminated Indigenous land with toxic firefighting foam has lost a challenge to a report by a scientist who declined to find that the foam could cause adverse health effects including immunosuppression and interfere with the efficacy of vaccines.

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Funder sells interest in combustible cladding class actions for $20M
Class Actions 2022-05-30 9:36 pm By Christine Caulfield

The litigation funder backing two combustible cladding class actions has sold a third of its investment in the cases to a player in the nascent secondary market for class action financing.

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