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.
Cash Converters has agreed to pay $42.5 million to settle a class action brought on behalf of consumers that took out personal loans, after reaching a $16.4 million settlement last year in a class action over interest charged on short-term loans.
Commonwealth Bank subsidiary Colonial First State and former director Linda Elkins face a class action alleging the wealth management group breached its superannuation trustee duties by failing to promptly transfer $3.2 billion of default membersā funds to a lower-cost, high-performing MySuper product.
A judge is considering whether he can increase a record $75 million civil penalty settlement reached by Volkswagen and the ACCC over the dieselgate scandal, after saying the people of Australia would be āupsetā if they knew about some of the āoutrageousā terms to which the consumer watchdog had agreed.
ANZ has rejected allegations by the financial regulator that $35 million in fees charged to customers for periodical payments between accounts was unlawful, saying the regulator’s case extended the scope of false and misleading representation claims.
US asset management firm State Street has dropped its trade mark claims against a second superannuation fund over its iconic Fearless Girl statue, leaving law firm Maurice Blackburn as the lone defendant as a November trial date approaches.
Awaiting a Full Court ruling in a case involving similar claims of privilege against self-incrimination by partners at another accounting giant, the judge in a consolidated class action against PricewaterhouseCoopers over its auditing of the failed Vocation has vacated the February trial date.
Counsel for a class action against Arnold Bloch Leibler alleging negligence over advice to Slater & Gordon has criticised the law firm’s barrister for seeking more time to file a possible dismissal application because he was “only briefed yesterday”, saying the excuse had become an all too frequent one.
One of two shareholder class actions against infant food maker Bellamy’s for allegedly misleading investors about its China growth strategy and declining infant formula market share in Australia wants to expand the class definition to include purchasers of equity swaps.
After being flooded with phone calls by class members wanting a share of a recent $16.4 million settlement with Cash Converters, law firm Maurice Blackburn will implement an automated message system to handle queries from 164,000 group members in the settled class action against Radio Rentals.