A judge has suggested that financial services giant AMP bring an application for summary dismissal of part of a class action over allegedly excessive insurance premiums, questioning the basis for the claims.
Following a three-week trial, Pitcher Partners has agreed to pay $41 million to settle a shareholder class action alleging the firm, along with Ernst & Young, approved an overly rosy year-end financial report related to Slater & Gordon’s disastrous $1.2 billion acquisition of UK business Quindell.
A court has directed a senior barrister acting in a $650 million lawsuit against Mercedes-Benz to “tear up” a letter his instructing solicitors sent concerning the judge’s ownership of a Mercedes vehicle, and said he was “surprised” the counsel signed off on it.
A judge has signed off on a $44.5 million settlement of a shareholder class action against Woolworths, which includes a $4.73 million funding commission, but the amount of fees to be paid to the law firm running the case remains to be decided.
A judge has blessed Ernst & Young’s settlement with shareholders in a class action alleging the firm, along with Pitcher Partners, approved an overly rosy year-end financial report related to Slater & Gordon’s disastrous $1.2 billion acquisition of UK business Quindell.
Officials at the Mercedes-Benz Australia head office referred to car dealers as “baby piglets” in internal communications and threatened and bullied the retailers, a trial court has been told in a $650 million lawsuit over the car maker’s decision to move to a fixed-price agency model.
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.
The Australian Securities and Investments Commission has released details of its allegations against embattled property developer Sasha Hopkins, who is the subject of several freezing orders won by the regulator earlier this month.
Embattled property developer Sasha Hopkins will face a compulsory examination by the Australian Securities and Investments Commission over the activities of his company A Team Property Group.
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.