A unit of Suncorp Group has been hit with a class action over superannuation fees and charges, the eighth banking royal commission-related class action filed thus far.
While no means a flood, the class actions filed in response to the shocking evidence of misbehaviour at last year’s banking royal commission have been steadily flowing and show no signs of drying up. Here, we give you the round-up of cases launched so far, the latest developments in each, and what’s coming down the pipeline.
A second combustible cladding class action has been launched, this time against Fairview Architectural, the Australian manufacturer of Vitrabond polyethylene cladding, which it claims has been used at major Australian airports, entertainment facilities and government buildings.
The Federal Court has approved a $14.6 million class action settlement with private training company Ashley Services, auditors Deloitte and Grant Thornton, and Holmes Management Group, with IMF Bentham set to pocket around $4.8 million for funding the litigation.
A judge has allowed the applicant in a class action over allegedly dangerous combustible cladding to sue a German-based cladding manufacturer, saying there was a prima facie case the company violated the Australian Consumer Law.
Australian distribution firm Halifax Vogel has struck back at a class action alleging it violated consumer laws with its representations regarding the quality of Alucobond cladding, denying that the cladding puts buildings and their occupants at risk of harm or death from fire.
Recycling company Sims Metal Management has responded to a shareholder class action ahead of a hearing on Tuesday, denying it breached its continuous disclosure obligations and partially placing the blame for any losses at the feet of group members.
Private training company Ashley Services and auditors Deloitte and Grant Thornton will pay a combined $14.6 million to settle a shareholder class action, and IMF Bentham says it may bank $7.2 million for funding the litigation.
Sims Metal is facing a shareholder class action over an earnings guidance that allegedly failed to take into account a likely fall in scrap metal prices.
A product liability class action has been filed against the manufacturers of Alucobond PE cladding, the first of what’s expected to be several lawsuits over the combustible cladding, believed to be in the majority of buildings in Australia.