Fitch Ratings has lost its bid for summary dismissal of claims in a class action over allegedly rosy ratings for risky derivative financial products issued 17 years ago on the basis that they are time-barred.
An appeals court has dismissed a competition case by Mayfield Development against NSW Ports over agreements to privatise two ports, finding that derivative Crown immunity applied to the port authority.
Class actions against Hyundai and Kia over alleged defective anti-lock braking systems could expand “dramatically”, a court has heard, as a contest over competing cases ticks over into a second year.
A group costs order giving class action solicitors a percentage cut of the proceeds of a case is a factor in weighing whether proceedings should be transferred from Victoria to a state in which such an order could not operate, the High Court has ruled.
Are group costs orders a factor in deciding a bid to transfer a class action? Can the orders survive the move to an inhospitable state? These questions are to be decided by the High Court Wednesday, in a ruling that will clarify the relevance and reach of Victoria’s contingency fee regime.
Mayfield Development is barred from bringing claims already traversed in a competition case by the ACCC that was thrown out by a court, NSW Ports has told an appeals court.
A judge has found a shareholder class action against water treatment company Phoslock and auditor KPMG should not bear the costs incurred by a competing case for preliminary discovery.
As the High Court hears oral arguments this week on the reach of power to make common fund orders for firms and funders bringing class actions, Lawyerly gives a cheat sheet on what the justices could do.
A law firm that lodged a class action against Apple over “throttled” iPhones might discontinue the case without having served the US tech giant.
Ahead of an eight-week trial in an investor class action in July, ratings agency S&P has lost its bid to throw out the entirety of the expert evidence in the case.