Westpac has agreed to pay up to $30 million to settle a long-running class action over allegedly excessive insurance premiums which included a trip to the High Court that resulted in common fund orders being struck down in the early stages of class actions.
A judge has found he has power to order that opt out notices be sent to a limited number of Boral shareholders eligible to join two class actions that faced off last month in a class action beauty parade.
A judge has ordered the applicant in a shareholder class action against former Arrium directors and KPMG over allegedly misleading statements made ahead of Arriumâs $754 million capital raising in 2014 to explain how the amount by which the mining companyâs assets were allegedly overvalued was calculated.
Slater & Gordon has argued discovery is becoming âunduly onerousâ in a cross-claim filed by Arnold Bloch Leibler in a class action accusing the law firm of breaching its duty of care by greenlighting Slate & Gordonâs $1.2 billion acquisition of Quindell.
A judge has slashed security for costs sought in a case brought by the liquidators of engineering and construction company Forge Group after the former directors targeted in the action failed to explain why they had retained multiple law firms.
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 lengthy dispute over insurance in a settled class action against sandalwood producer Quintis has been resolved, with the Federal Court rejecting a challenge by two insurers to the rectification of policies that could provide a further $11.25 million in recoveries to group members.
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 bid by KPMG to push off the filing of its defence in a class action over misleading statements ahead of Arrium’s $754 million capital raising in 2014 has been shot down by a judge, who said the auditor has known the claims against it since November.