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Quintis class action settlement delayed after insurance policy ‘cock-up’
Class Actions 2020-05-07 4:03 pm By Alison Eveleigh

The settlement of two shareholder class actions against sandalwood producer Quintis has been delayed after the company’s eleventh-hour revelation that it may have an extra $40 million in insurance.

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Murray Goulburn sues insurer for $8.85M to recover class action costs
Insurance 2020-05-07 2:29 pm By Christine Caulfield

Dairy cooperative Murray Goulburn has launched proceedings against AIG Australia seeking to recover 20 per cent of a $42 million class action settlement it paid, plus the legal costs of defending two class actions.

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Three law firms settle class actions over Ralan investment advice
Class Actions 2020-05-07 12:41 pm By Alison Eveleigh

Three Sydney-based law firms have agreed to settle the class actions brought against them by Australian-Chinese investors seeking over $6 million in damages for allegedly negligent advice provided about investment properties developed by the now collapsed Ralan Group.

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First common fund order granted in the wake of High Court ruling
Class Actions 2020-05-06 1:51 pm By Alison Eveleigh

A judge has made a common fund order in approving a $3 million settlement in a class action against mortgage lending and investment company RMBL, the first common fund order granted since the High Court shot down these orders in the early stages of class actions.

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Landmark shareholder class action against Myer dismissed
Class Actions 2020-05-06 1:31 pm By Cat Fredenburgh

A closely watched shareholder class action against Myer over an inflated profit forecast from former CEO Bernie Brookes has been dropped, after a court found the retail giant misled shareholders but that they suffered no harm.

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US plaintiffs firms set to pounce on Treasury Wine Estates
Class Actions 2020-05-06 11:54 am By Miklos Bolza

Treasury Wine Estates is facing the threat of multiple shareholder class actions in the US over a January 2020 profit downgrade that is alreadyĀ  at the centre of two class actions filed in Australia.

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Vocus ruling cements return to class action book building by funders
Analysis 2020-05-05 10:37 pm By Christine Caulfield

A decision this week rejecting a proposed common fund order at the settlement approval stage of a class action against teleco Vocus has dashed the hopes of litigation funders that a recent High Court ruling would not foreclose on judges using discretion at the end of a case and will cement a return to bookbuilding and a focus on shareholder class actions by institutional investors.

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Tabcorp faces potential class action over cash out error
Class Actions 2020-05-05 9:57 pm By Alison Eveleigh

Betting giant Tabcorp may be hit with a class action after the company accidentally offered punters larger than usual cash out amounts for certain bets and then sought to reclaim the cash.

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Top silk ‘joked’ with class action lawyer Mark Elliott about misleading fee expert, court told
Class Actions 2020-05-05 5:34 pm By Christine Caulfield

A prominent silk deliberately misled a cost consultant retained to provide an opinion on the barrister’s fees to a court overseeing a class action over the collapse of Banksia Securities, then joked about it with lawyer and litigation funder Mark Elliott, a judge has been told.

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ACCC says lower fine ‘appropriate’ in VW appeal of record $125M ā€˜dieselgateā€™ penalty
Competition & Consumer Protection 2020-05-05 12:58 pm By Alison Eveleigh

The Australian Competition and Consumer Commission maintains its $75 million settlement agreement with Volkswagen over the emissions cheating scandal was ā€œappropriateā€, as VW progresses its appeal of the $125 million penalty imposed by a judge who called the ACCC agreement ā€œmanifestly inadequateā€.

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