If evidence were needed that courts are not rubber stamping class action settlements, the scrutiny of multi-million dollar agreements in 2021 is proof positive that judicial oversight of representative proceedings is robust.
A judge has rejected an “audacious” attempt by McMillan Shakespeare to recoup a surplus of funds left over after a $9.5 million class action settlement was distributed to registered group members.
A litigation funder has taken aim at a landmark judgment in an appeal of a ruling that found its funding arrangement with group members in a class action against Queensland energy suppliers was a managed investment scheme.
Mercedes-Benz has responded to a $650 million lawsuit by Australian dealers over its decision to move to a fixed-price agency model, saying it had a “legitimate commercial interest” in making the change and denying that dealer agreements were “perpetual” in their terms.
Indian generics giant Dr Reddyâs Laboratories must give Bristol-Myers Squib unit Celgene Corporation three monthsâ notice before deciding to sell generic versions of blockbuster cancer drug Revlimid in Australia.
Law firm Arnold Bloch Leibler will part with $28 million in its settlement with Slater & Gordon shareholders over advice ahead of the plaintiffs firm’s disastrous $1.2 billion Quindell acquisition.
The lawyers and funder behind a shareholder class action against Crown Resorts will be asking the court to approve fees and commission worth 35 per cent of a $125 million settlement with the gaming giant, leaving over $81 million for group members.
A judge has directed that the legal fees and funding commission sought to be deducted from a $125 million class action settlement with Crown Resorts be included in a proposed notice to shareholders, after learning that group members were forced to click through to Maurice Blackburn’s website to find the “critical” figures.
A judge has thrown out a lawsuit that argued the funding for a class action against two Queensland energy generators didn’t comply with new regulations targeting litigation funders, and said a landmark judgment that held class action funding agreements were managed investment schemes was conceptually incoherent and ripe for a Full Court challenge.
Former Tennis Australia president Steven Healy has lost his bid for $4.3 million in indemnity costs against ASIC over its failed case over the rights to the Australian Open, with a judge finding the regulatorâs case against him had âreasonable prospects of successâ before trial.