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The applicants in a shareholder class action against KPMG and former directors of defunct mining company CuDeco might press for clarity on the question of common fund orders in light of a ruling Tuesday morning that further split the Federal Court on the issue.
A judge has found a law firm's estimated fees for representing the Commonwealth in a class action over the use of allegedly toxic firefighting foam on military bases are excessive, noting the government has already forked over $12 million in defence costs.
In reasons for approving a $41 million deal to settle one of three shareholder class actions over Slater & Gordon's acquisition of a UK firm and awarding the funder 28 per cent, a judge has challenged a persistent notion that the interests of litigation funders and group members are at odds.
After initial qualms, a judge has signed off on a $29.5 million settlement in a class action against recycling company Sims that includes a "staggering" $8.5 million in legal costs and an insurance policy buffering the funder from adverse costs.
A judge has vacated an upcoming trial in shareholder class actions against former Quintis director Frank Wilson and Ernst & Young, after learning judgment in similar ASIC proceedings against Wilson will not be delivered before the class action hearing kicks off.
Class action settlement sums reached new highs last year, with the ten largest agreements totalling almost $1 billion, almost half of which was secured by one plaintiff law firm.
A judge has approved a group costs order with a tiered contingency fee that will guarantee group members at least 72.5 per cent of any returns in a shareholder class action accusing Crown Resorts of lax anti-money laundering compliance over a six-year period.
The Australian supplier of alleged combustible cladding is opposing a class action applicant’s bid for information ahead of settlement talks on the quantity of cladding sold in the country between 2009 and 2019.
A judge has granted a law firm's bid for a group costs order in a shareholder class action against payments processing company EML, but has trimmed its proposed cut of any recovery after comparing it to the contingency fee rate the firm accepted in another class action.
Insurers will file de-classing applications in four class actions on behalf of small businesses seeking coverage under business interruption policies for losses flowing from COVID-19 restrictions after their test cases largely failed.