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Court approves confidential KPMG class action settlement over objections
Class Actions 2019-05-27 9:32 pm By Amelia Birnie

A judge has signed off on the confidential settlement of a shareholder class action brought against KPMG relating to the failed $830 million hostile takeover of mining firm Discovery Metals, despite objections that the settlement process was “unfair and unjust”.

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Maurice Blackburn launches cartel class action against investment banks
Competition & Consumer Protection 2019-05-27 8:16 pm By Miklos Bolza

Maurice Blackburn has launched a rare competition class action against five global investment banks over a conspiracy to manipulate foreign exchange rates that has spawned class actions and lawsuits by regulators across the globe.

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RMBL ordered to retract comments ‘encouraging’ class members to opt-out
Class Actions 2019-05-24 5:59 pm By Amelia Birnie

Mortgage lending and investment firm RMBL Investments has been ordered to  withdraw all communications with its customers that encouraged them to opt-out of a consumer protection class action against the firm.

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Funders feel the heat as AMP ruling shows returns to class members matter most
Analysis 2019-05-24 3:05 pm By Christine Caulfield

A judge’s decision to pick Maurice Blackburn’s no win, no fee class action against AMP over three funded class actions puts the pressure on litigation funders, which will now face more competition from law firms prepared to go it alone, experts say. The ruling also shows the value courts place on funding arrangements that seek to maximise returns for class members, which means class action beauty parades are sure to get less ugly.

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Crown Resorts challenges ruling allowing jailed employees to talk to class action lawyers
Class Actions 2019-05-24 2:25 pm By Cat Fredenburgh

Crown Resorts has appealed a ruling in a shareholder class action against it allowing 18 former employees, who were jailed as part of the Chinese government’s crackdown on gambling, to answer questions about its business in China.

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Judge questions redacted funder’s commission in IAG class action
Class Actions 2019-05-24 1:46 pm By Miklos Bolza

A judge has raised questions about a redacted funding agreement in a class action against two IAG units over allegedly worthless add-on insurance products, saying the details were needed for a swift resolution of the case.

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High Court declines funder’s appeal of $64M Banksia settlement approval
Appeals 2019-05-24 1:23 pm By Cat Fredenburgh

The High Court will not review an appeals court’s decision to approve a $64 million settlement in litigation over the failure of Banksia Securities while rejecting the funder’s commission and legal fees.

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“I’d be happy to mediate it myself”: Judge cheers talks in Fitch class action
Class Actions 2019-05-23 7:52 pm By Miklos Bolza

Parties in an ongoing four-and-a-half year long investor class action against Fitch Ratings have agreed to a second round of mediation after a prior attempt was adjourned without success.

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No win, no fee funding model carries Maurice Blackburn to victory in AMP class action contest
Class Actions 2019-05-23 10:29 am By Christine Caulfield

Maurice Blackburn’s shareholder class action against AMP — the only action not backed by a litigation funder — has been picked as the winner in a fierce battle of law firms vying to lead a high stakes case over the wealth manager’s fees for no service scandal.

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VW dieselgate hearings postponed over ACCC objections
Class Actions 2019-05-22 10:11 pm By Miklos Bolza

A hearing scheduled for later this year in several class actions and an ACCC proceeding over allegations Volkswagen installed dual-mode software in diesel vehicles to cheat on emissions tests has been postponed, despite cries of prejudice from the consumer regulator.

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