The litigation funder bankrolling a new class action against Toyota over allegedly faulty filters in its diesel models is looking to earn a step-up commission of between 20 and 30 percent of any recovery in the case.
The judge who presided over a rare securities class action trial last year against department store Myer will deliver judgment in the case this month that could be the first ruling on causation in Australian shareholder class actions and has the potential to have a chilling effect on law firms bringing the cases.
Former Dick Smith executives Nick Abboud and Michael Potts have pointed the finger at the defunct electronics retailer’s other directors in response to cross claims by auditor Deloitte, which is named in two shareholder class actions over the company’s collapse.
The Australian Securities and Investments Commission has won its bid to use evidence from US proceedings in its case against Rio Tinto alleging the mining giant misled shareholders about a Mozambique mining company purchased for US$4.2 billion.
Global solar panel manufacturer Hanwha Q CELLS wants to amend the patent behind its solar technology, more than six months after launching infringement proceedings against three rivals.
A judge has given the thumbs up to AMP’s new program to identify and compensate victims of so-called insurance churning by its financial planning arm after inadequacies were revealed in the original scheme.
The judge overseeing the Ethicon pelvic mesh class action has flagged serious public policy concerns stemming from class identification problems, amid fears that “poorer” patients in the public health system would be less likely to be notified of their rights compared to those in the private system.
The National Tertiary Education Union has asked a court for permission to intervene in support of sacked physics professor and climate skeptic Peter Ridd as he fights James Cook University’s appeal of a $1.2 million judgment against it.
A judge overseeing a settled class action against failed Banksia Securities has rejected an application to limit a contradictor’s investigation of alleged professional misconduct on the part of the legal team and funder behind the case, saying he was satisfied there was a proper basis for the allegations.
The liquidators of failed Gold Coast investment group Octaviar have been given the thumbs up to reject over $900 million in proofs of debt from two of the firm’s subsidiaries after the Queensland Supreme Court ruled they had received competent legal advice on the matter and were justified in the rejections.