A proposed consolidation of two class actions against collapsed wealth manager Dixon Advisory has hit a snag, with Shine Lawyers wanting to ensure group members who have signed up for its no win, no fee proceeding don’t get stuck paying the commission of the funder backing its rival’s case.
A judge overseeing two franchisee class actions against 7-Eleven that settled for $98 million has been urged to cut the payout to the law firm running the cases because it had a ātroublingā practice of deferring its fees.
A fight over the venue for a class action against KPMG by investors in the collapsed mining company Arrium has been taken to the High Court, and at the centre of the battle is a contingency fee order made in the case.
A shareholder class action against Virgin Australia over representations made in a prospectus for a $324 million capital raising won’t put a dent in the airline’s financials, the company said Friday.
Virgin Australia has been hit with a shareholder class action over representations made in a 2019 prospectus for a capital raising to fund its $700 million acquisition of the Velocity loyalty program, just six months before the airline sank into administration.
A judge overseeing a shareholder class action against Crown Resorts has ordered the casino giant to give details of board members’ knowledge about two bank accounts which were allegedly used to launder hundreds of millions of dollars.
Explaining his decision to reject a class action settlement that would have earned a law firm $1.75 million but provided nothing to 27,000 Woolworths employees, a judge has said the agreement created a conflict of interest between the solicitors and the workers they sought to set “adrift”.
The judge overseeing the scandal-ridden Banksia Securities class action has questioned why a solicitor on record for the case hasn’t handed over his ill-gotten fees despite professed regret for his actions and his claims to have reformed.
The behaviour of the legal team running the Banksia Securities class action was “reprehensible” and the solicitor who allowed himself to be controlled by lawyer and funder Mark Elliott should be struck from the court’s roll of practitioners, a judge heard Tuesday.
A solicitor fighting to remain on the roll after his involvement in the infamous Banksia Securities class action has told of his regret at having lunch with the funder behind the case eight years ago — a meeting that set in motion a plot driven by lawyers to deceive seven Supreme Court judges and defraud thousands of investors.