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Funder to appeal landmark ruling on security in Fair Work class actions
Employment 2019-10-28 4:51 pm By Miklos Bolza

A litigation funder is planning to challenge a landmark Federal Court ruling that found for the first time that funders can be ordered to pay security for costs in Fair Work class actions.

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Woolworths class action funder wants up to 35% of any recovery
Class Actions 2019-10-28 12:23 pm By Christine Caulfield

The funder backing a shareholder class action against Woolworths wants a 35 percent slice of any settlement or judgment in the $100 million case, according to its agreement with the applicants.

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Federal Court judge to go on cross-country tour for toxic foam class actions
Class Actions 2019-10-25 9:12 pm By Miklos Bolza

Federal Court Justice Michael Lee is set to go out in the field on a nationwide tour to personally inspect the military bases and surrounding properties at the heart of three class actions against the Commonwealth of Australia over land contamination from allegedly toxic firefighting foam.

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After landmark Myer ruling, settlements in shareholder class actions to stay the norm
Analysis 2019-10-25 8:39 pm By Christine Caulfield

A groundbreaking class action ruling by the Federal Court on Thursday that found Myer misled shareholders and accepted the applicant’s market-based causation theory is the only judgment in an Australian securities class action since the first shareholder case was brought 20 years ago, and it might be the only one for years to come.

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Judge ‘defies anyone’ to understand confusing Surfstitch opt out notice
Class Actions 2019-10-25 10:34 am By Miklos Bolza

A judge has ordered the legal teams behind two settled Surfstitch class actions to have another crack at the opt out notice, saying the current version is “just too confusing” for group members.

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Crown Resorts, ATO settle $396M dispute over botched US expansion
Tax 2019-10-17 9:15 pm By Miklos Bolza

Crown Resorts has settled its feud with the Australian Taxation Office over a $396 million tax bill stemming from the acquisition of Las Vegas-based Cannery Casino Resorts as part of the company’s failed North American expansion.

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APRA won’t appeal loss in IOOF case
Financial Services 2019-10-17 5:08 pm By Cat Fredenburgh

The Australian Prudential Regulation Authority will not challenge a Federal Court ruling that dismissed its case against fund manager IOOF as ā€œunpersuasiveā€, ā€œfundamentally inadequateā€ and ā€œtenuous in the extremeā€.

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NAB case against Human Group could prejudice Helen Rosamond, judge says
White Collar 2019-10-16 3:29 pm By Cat Fredenburgh

A judge has hit pause on National Australia Bank’s case against Helen Rosamondā€™s executive services company Human Group over an alleged $42.4 million fraud against the bank, amid an ongoing criminal case against Rosamond.

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Medibank admits to violating consumer law with insurance cover fail
Competition & Consumer Protection 2019-10-16 1:11 pm By Cat Fredenburgh

Health insurer Medibank has admitted to engaging in misleading and deceptive conduct when it falsely told consumers they were not eligible for certain coverage under their insurance policies in what it called an “internal process failure”, but denies the ACCC’s claim that consumers were denied the benefits they paid for.

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Surfstitch agrees to settle shareholder class actions, again
Class Actions 2019-10-15 3:40 pm By Cat Fredenburgh

Online fashion retailer Surfstitch has reached an in-principle settlement in two shareholder class actions, about nine months after an initial agreement to resolve the dispute derailed.

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