AMP’s chief executive Francesco De Ferrari has gone on the offensive against class actions in Australia, saying litigation funders were driving up the cost of doing business, resulting in job losses and increasing costs of financial advice.
An appeals court has vacated orders sending opt out and registration notices to shareholders in a class action against AMP after a successful challenge by the lead plaintiff in a competing class action that was stayed after a high-profile litigation beauty parade last year.
A proposed notice to eligible group members in Maurice Blackburn’s class action against AMP over its fees for no services scandal threatened to bar unregistered shareholders from any settlement stemming from mediation in the case, a threat barred by a recent ruling finding that courts have no power to close class actions to signed up group members, an appeals court has heard.
A NSW Supreme Court decision refusing to put a Maurice Blackburn-led shareholder class action against AMP on ice pending a High Court challenge has been appealed by the lead applicant of a competing case.
A software company is suing a subsidiary of AMP for breach of contract after the financial services firm allegedly induced 11 employees to jump ship after licensing its online advisor platform.
A judge has declined to put a Maurice Blackburn-led class action against AMP on hold while the High Court decides whether to overturn a ruling awarding the firm carriage of the matter following a high-stakes battle against three other law firms.
The identity of a Big Six partner to whom a former AMP lawyer allegedly criticised her superior has been revealed in court during a heated exchange between the barristers in the unfair dismissal proceeding.
Repeated suggestions of a planned strike out application are being used as a “threat” by four AMP subsidiaries and two trustees in a consolidated class action over allegedly excessive superannuation fees, a court has heard.
The power of courts to choose a single winner from a contest of competing class actions is not the likely target of the High Court in taking up a challenge to last year’s beauty parade of shareholder proceedings against AMP, but the analysis behind the decision to award Maurice Blackburn the prize could face scrutiny, experts say.
The High Court has agreed to weigh in on a decision last year to pick Maurice Blackburn’s case as the winner of a beauty parade of shareholder class actions against AMP over the wealth manager’s controversial fees for no service.