A judge has approved a “disappointing” $25 million settlement in long-running class action litigation over the collapse of electronics retailer Dick Smith with claims worth hundreds of millions of dollars.
The litigation funding company controlled by the late solicitor Mark Elliott has told a court of its “remorse and regret” for its misconduct in the Banksia Securities class action, a case that has been described as the “darkest chapter in Victoria’s legal history”.
A fight between three leading class action firms over who will lead a potentially lucrative shareholder class action against construction giant Boral is back on, after the High Court pressed go on class action beauty parades.
The son of Banksia class action funder Mark Elliott was no Michael Corleone of the Godfather, and was not knowingly complicit in an alleged scheme masterminded by his father to defraud group members and destroy evidence, his lawyer has told a court.
ASIC has fired back at iSignthis’ defence to the regulator’s claims that it violated the Corporations Act by not disclosing $3 million in one-off revenue related to integration agreements, saying it was not the job of its compliance officials to school the fintech on its disclosure obligations.
Victorian public healthcare provider Peninsula Health has been hit with a class action brought by junior doctors who claim they were deliberately unpaid despite working a significant amount of overtime each week.
Barrister Norman O’Bryan SC has failed in his last-ditch bid to reopen his defence in the Banksia class action to submit evidence he says shows he did not retain an interest in the litigation funder behind the case.
The judge overseeing the trial alleging fraud on the part of barristers and the funder behind a class action over Banksia Securities will be asked to award at least $32 million to the failed property lender’s 16,000 debenture holders for the serious misconduct alleged against the lawyers.
The law firm behind a long-running class action over the 2011 floods in Queensland which reached a $440 million partial settlement last month has estimated that its legal bill to date totals around $60 million.
Ardent Leisure Group has hit back at a $310 million shareholder class action, denying that there were “obvious” risks in its Thunder River Rapids Ride ahead of a 2016 tragedy at the Dreamworld theme park which claimed four lives.