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Judge tosses Babcock & Brown cases, finds ‘serious problems’ with market-based causation
Securities 2019-10-21 8:47 pm By Miklos Bolza

A judge has dismissed three proceedings by shareholders against the liquidator of failed global financial services firm Babcock & Brown, in a finding that highlights “serious problems” with market-based causation and may have ramifications for securities class actions.

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Cash Converters to pay $42.5M to settle personal loans class action
Class Actions 2019-10-21 2:31 pm By Cat Fredenburgh

Cash Converters has agreed to pay $42.5 million to settle a class action brought on behalf of consumers that took out personal loans, after reaching a $16.4 million settlement last year in a class action over interest charged on short-term loans.

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Monsanto faces class action in Australia over Roundup weedkiller
Product Liability 2019-10-21 10:25 am By Cat Fredenburgh

Agricultural giant Monsanto is facing a class action in Australia over the marketing of its Roundup weedkiller, after being hit with a landmark US$ 2 billion verdict in the United States.

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Judge approves BankSA class action settlement, awards law firm for prep work
Class Actions 2019-10-18 11:58 pm By Christine Caulfield

A judge has signed off on a settlement of a long-running class action against Westpac unit BankSA, and has ruled the law firm that brought the case has an equitable right to unpaid legal costs for investigating the case before it found a funder.

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CBA’s Colonial First State faces another superannuation class action
Class Actions 2019-10-18 10:38 pm By Christine Caulfield

Commonwealth Bank’s wealth management unit Colonial First State has been hit with a second class action in as many days, this one alleging it charged excesssive superannuation fees to fund commissions to financial advisers.

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Courtside with the swift ‘Hammer’ of justice
People In The News 2019-10-18 2:06 pm By Amelia Birnie

Justice David Hammerschlag of the NSW Supreme Court has a way with words that readily lends itself to dramatic courtroom headlines. The “Hammer,” as he is known, also pulls no punches and is quick with one liners that keep counsel on their toes. Here, Lawyerly looks at some of the recent best moments inside courtroom 7D.

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Allens class actions ace Jenny Campbell thrives on the unpredictable
Women in law 2019-10-18 12:07 pm By Amelia Birnie

The careful, methodical approach of 20-year class action veteran and Allens partner Jenny Campbell is in demand in the fast-changing class action world, where the only certainty is uncertainty.

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CBA unit faces MySuper class action over delayed $3.2B funds transfer
Class Actions 2019-10-17 1:03 pm By Amelia Birnie

Commonwealth Bank subsidiary Colonial First State and former director Linda Elkins face a class action alleging the wealth management group breached its superannuation trustee duties by failing to promptly transfer $3.2 billion of default membersā€™ funds to a lower-cost, high-performing MySuper product.

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Iluka class action doesn’t need cash to put up security, judge says
Class Actions 2019-10-16 11:00 pm By Cat Fredenburgh

The applicant in a shareholder class action against Iluka Resources can put up security for the company’s legal costs by way of two insurance deeds of indemnity, but a bid to use the deeds to replace the $1.25 million it earlier paid in cash security has failed.

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Judge ‘outraged’ by terms of ACCC’s $75M dieselgate settlement with VW
Competition & Consumer Protection 2019-10-16 8:41 pm By Amelia Birnie

A judge is considering whether he can increase a record $75 million civil penalty settlement reached by Volkswagen and the ACCC over the dieselgate scandal, after saying the people of Australia would be ā€œupsetā€ if they knew about some of the ā€œoutrageousā€ terms to which the consumer watchdog had agreed.

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