IOOF has admitted that some allegations in an employee complaint at the centre of a shareholder class action were “substantially true”, including claims that it overstated the performance of its ‘Buy Model’ investment portfolio and that its head of research instructed subordinates to complete his training courses for him.
Westpac has been hit with a class action over a “shonky” car loan scheme, in what is the first class to be filed in Victoria Supreme Court following passage of a state law allowing lawyers to earn contingency fees.
Elderly victims of Ponzi schemer Bradley Sherwin have told the government’s class action inquiry of their “horrendous class action journey”, which led to a “pathetic outcome” in which the majority of a $12 million settlement with the Bank of Queensland went to the law firm and funder behind the case.
Westpac is facing a class action over an allegedly dishonest car loan scheme that was eventually banned by the corporate regulator.
A judge on Friday dismissed Westpac’s bid for an update from litigation funder JustKapital as to whether it continues to financially back a class action against the bank over allegedly excessive insurance premiums.
The parties in a ‘sham’ contracting class action brought on behalf of telecommunications workers have both lost bids to recover interlocutory costs, with a judge noting that costs orders against funded litigants should be the exception rather than the rule in Fair Work litigation.
The company that operates the Newmarch House nursing home in Sydney is facing a possible class action after a coronavirus outbreak at the facility resulted in the deaths of 19 residents.
Shine Lawyers has been given the go ahead to use two reports produced in three settled PFAS class actions as evidence in its latest case over the Defence Department’s firefighting foam, with a judge saying any implied undertaking not to re-use the material lost force when the information became public.
Legislation passed by Victoria state lawmakers lifting the ban on contingency fees in class actions will not lead to US-style litigation entrepreneurialism, but it may also not have the desired effect of encouraging smaller and more risky claims, experts told Lawyerly.
Shine Lawyers and barrister David Turner have once again dodged a negligence lawsuit over advice given about a $630,000 contractual dispute, with an appeals court upholding an earlier decision dismissing a bid to join the two parties.