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Fitch expert challenged in investor class action over toxic CDOs
Class Actions 2018-11-23 5:37 pm By Miklos Bolza

An expert witness in an investor class action against Fitch Ratings over toxic financial products is no expert at all, the lead applicant told the court in contesting the admissibility of the expert’s evidence.

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Law firm calls for scrutiny of short sellers in class actions
Class Actions 2018-11-23 2:50 pm By Christine Caulfield

A leading law firm has called for a closer look at the increasing involvement of short sellers in shareholder class actions, saying any review that flows from the current inquiry should examine whether short sellers should be allowed to join the legal proceedings.

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Funder in Dick Smith class action won’t guarantee lower commission amid delays
Class Actions 2018-11-22 4:53 pm By Miklos Bolza

Litigation funder Investor Claim Partner won’t promise it will maintain a lower commission rate in one of the Dick Smith class actions if mediation is delayed to next year.

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Telstra contractor faces ‘sham’ contracting class action by 4,000 technicians
Employment 2018-11-22 2:07 pm By Christine Caulfield

In what could be the largest employment class action ever brought, Telstra contractor Tandem Corp has been accused of unlawfully designating thousands of telecommunications technicians as independent contractors, avoiding overtime, leave and other benefits to the workers. The “sham” contracting class action, filed Wednesday by Shine Lawyers in the Federal Court, alleges Tandem, formerly ISG…

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What you need to know about the GetSwift ruling
Analysis 2018-11-21 11:55 pm By Christine Caulfield

The court’s authority to shut down competing class actions is no longer in doubt after Tuesday’s Full Federal Court judgment in the case against GetSwift, and while there is no “silver bullet” when it comes to how judges must deal with multiple proceedings, there are key factors to weigh, the appeals court said. Here, experts provide the big takeaways from the landmark ruling.

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Law firms avoid courtroom showdown with novel CBA class actions deal
Class Actions 2018-11-21 11:36 pm By Cat Fredenburgh

Maurice Blackburn and Phi Finney McDonald have sidestepped a competing class action battle in the high-stakes litigation against Commonwealth Bank of Australia over alleged breaches of money laundering laws, with the firms proposing to jointly lead a consolidated class action against the bank.

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Bannister Law off another class action
Class Actions 2018-11-21 9:03 pm By Cat Fredenburgh

Bannister Law has stepped down from leading a shareholder class action, the second major class action the firm has recently handed over to a rival firm without explanation.

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Ponzi schemer Samra drew funds at ‘near excess’, BankSA admits
Class Actions 2018-11-21 8:41 pm By Miklos Bolza

Westpac-owned BankSA has admitted that convicted Ponzi schemer Michael Samra withdrew funds at “near excess” of the bank’s limits and had insufficient money to honour cheques drawn on his company’s bank account.

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Dick Smith shareholder must join class action to pursue claims, judge says
Class Actions 2018-11-20 11:17 pm By Cat Fredenburgh

A Dick Smith shareholder has lost his bid to bring a separate proceeding against the failed home goods retailer while two class actions are afoot.

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Commonwealth denied costs in class action by detained asylum seekers
Class Actions 2018-11-20 9:49 pm By Cat Fredenburgh

The scope of the government’s power to detain individuals is “a matter of considerable public importance”, a judge has said, shooting down the Commonwealth’s bid for costs after it won the dismissal of a class action brought on behalf of asylum seekers who allege they were unlawfully imprisoned in Australian immigration detention centres.

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