Ernst & Young has settled all claims against it in a shareholder class action alleging the Big Four accounting firm and Pitcher Partners signed off on an overly rosy year-end financial report that failed to disclose risks and impairments associated with the law firm’s disastrous $1.2 billion acquisition of UK insurance claims company Quindell.
A litigation funder challenging a decision underpinning recently enacted rules that require class actions to be registered as managed investment schemes told an appeals court Wednesday the decision was plainly wrong and the regime unworkable.
Two insurers have won an appeal that blocks group members in a class action against sandalwood producer Quintis from receiving a further $11.25 million after a settlement was reached almost two years ago.
A fight over the venue for a class action against KPMG by investors in the collapsed mining company Arrium has been taken to the High Court, and at the centre of the battle is a contingency fee order made in the case.
A judge overseeing a shareholder class action against Crown Resorts has ordered the casino giant to give details of board members’ knowledge about two bank accounts which were allegedly used to launder hundreds of millions of dollars.
A litigation funder will seek a commission of up to 25 per cent in a class action against Toyota that could see the automotive giant owe close to $2 billion to 260,000 car owners after a judge found diesel filters in its cars were defective.
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.
Five major banks including JPMorgan, Citibank and UBS have denied all wrongdoing in a class action accusing them of entering a cartel agreement to rig foreign exchange rates and argue the claims were brought out of time or are barred by settlements in overseas proceedings.
The Full Federal Court has found that a landmark NSW Court of Appeal decision barring group members from being notified of future class closure orders at settlement was “plainly wrong” and that the court has the power to make the orders.
Teleco contractor BSA has reached an in-principle settlement resolving a class action that accuses the company of misclassifying its workforce of technicians as independent contractors.