A judge has agreed to sign off on an order in a massive class action against Westpac that could give 25 percent of any recovery to the litigation funder underwriting the case, on the condition that the funder accept a rate reflecting the net, not the gross, sum.
MyBudget has successfully fought off a class action brought by consumers who claimed the budget management firm violated consumer law by holding onto interest earned on their personal budgeting accounts.
Bodum, maker of the popular glass French press coffee maker, has sued an Australian company for allegedly copying the design and getup of its iconic device, on the heels of winning a $4 million judgment in the US over a copycat device.
The $92 million payout to two funders that financed the recently settled S&P Global class actions shows the need for continued scrutiny of litigation funding agreements, experts say, but whether it is a sign of windfalls to come or is a ghost of commission’s past is another question.
Concerns that the proposed acquisition of Sirtex Medical by a Chinese private equity firm would leave the company with insufficient funds to cover a settlement or judgement in a class action were eased Wednesday, after a barrister said the takeover would leave the company with just under $1 billion in assets.
The two directors of biodegradable coffee pod startup iCapsulate have been ordered into mediation to try to resolve a feud over whether to liquidate the company, a year after it was offered $2.5 million by an investor on reality TV show Shark Tank.
The decision by a federal judge to refuse calls for a confidentiality order keeping under wraps S&P Global’s massive class action settlement is a welcome one, experts say, and a preview of judgments to come.
S&P Global will pay $215 million to settle six consolidated class actions brought by investors over toxic CDOs, a figure revealed by the Federal Court on Thursday despite calls that it be kept secret.
A $3 million settlement in the shareholder class action against the directors of failed mining company Kagara has been approved, with a Federal Court judge saying the amount is fair and reasonable despite two-thirds of it going to the lawyers and funder that brought the case.
The Full Federal Court has handed Johnson & Johnson unit Ethicon a victory in the class action over its allegedly defective vaginal mesh devices, partly reversing a judge’s decision that expanded the class post-trial.