Piper Alderman

A judge has signed off on a $26 million settlement in a shareholder class action against Ardent Leisure over the 2016 Dreamworld tragedy, including $7.8 million for the funder that backed the case and $5 million in legal costs.

A judge has given a competition class action against AGL Energy another chance to secure funding, but imposed a “drop dead date” by which the proceeding will be dismissed if no funder is found.

Sydney-based online broker International Capital Markets is facing a class action by inexperienced investors who allegedly lost $500 million in trading risky contracts for difference.

The Australian Securities and Investments Commission has lost its bid to temporarily restrain payday lenders Cigno and BSF Solutions from enforcing loan fees against 7,000 customers, with a judge finding an injunction could destroy their businesses.

Wealth manager E&P Financial Group has agreed to a $16 million settlement in a class action by Dixon Advisory clients who allege they suffered financial loss when the firm and its directors encouraged the purchase of high risk securities.

Qantas has hit back at the ACCC’s case alleging it sold thousands of tickets on cancelled flights for commercial gain, saying airlines cannot guarantee flights will run as planned.

A judge has allowed Care A2 Plus to proceed with an appeal arguing a US lawsuit by former business partner Gensco should be blocked, saying the infant formula company will otherwise face a “risk of substantial injustice”. 

Care A2 Plus should be given leave to appeal a ruling over an overlapping US case by former business partner Gensco so that it can file a challenge in the High Court if need be, a court has heard.

A second law firm is likely to throw its hat in the ring to run a competing class action against Qantas over flight cancellations in the COVID-19 pandemic, but a judge has made orders trying to side-step a carriage fight, criticising them as “wasteful and expensive”. 

The future of a competition class action against AGL Energy is in doubt after being abandoned by its funder, despite evading the energy supplier’s bid to dismiss the case.