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Sirtex shareholders fear ‘bare cupboard’ for class action after takeover
Class Actions 2018-09-20 4:32 pm By Christine Caulfield

Shareholders in a class action against Sirtex Medical have lost a bid for an order preventing the life sciences company from quietly moving $128 million in cash assets out of the country after its $1.9 billion takeover by a Chinese private equity company comes into effect Thursday, but the battle over the money will likely continue.

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BMW says court can’t make funding order in Takata class actions
Class Actions 2018-09-19 8:40 pm By Miklos Bolza

BMW Australia plans to challenge the NSW Supreme Court’s power to create a common fund order spanning six class actions brought against major players in the automotive industry over defective and dangerous Takata air bags.

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Judge wants funder’s cut in Westpac class action to come from net recovery
Class Actions 2018-09-19 1:58 pm By Cat Fredenburgh

A judge has agreed to sign off on an order in a massive class action against Westpac that could give 25 percent of any recovery to the litigation funder underwriting the case, on the condition that the funder accept a rate reflecting the net, not the gross, sum.

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Judge dismisses MyBudget consumer class action
Class Actions 2018-09-18 9:59 pm By Miklos Bolza

MyBudget has successfully fought off a class action brought by consumers who claimed the budget management firm violated consumer law by holding onto interest earned on their personal budgeting accounts.

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Shareholders to contest Bellamy’s cost-capping bid in class actions
Class Actions 2018-09-14 2:09 pm By Christine Caulfield

A sought-after court order by organic baby food maker Bellamy’s to limit legal costs in two class actions won’t come without a fight, a barrister for the shareholders said Friday.

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QRxPharma defendants can access class members’ broker details
Class Actions 2018-09-13 11:49 pm By Miklos Bolza

The defendants in a shareholder class action over QRxPharma’s alleged failure to disclose problems with regulatory approval for its painkiller Moxduo have won access to information on class members’ financial brokers.

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Funders react to ASIC’s thumbs down on licensing
Class Actions 2018-09-13 11:41 pm By Christine Caulfield

The corporate watchdog’s dim view of proposals to regulate litigation funders got a mixed reaction from big players in the industry Thursday, with its position supported by foreign funders but frowned on by at least one home-grown firm.

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ASIC doesn’t want to regulate litigation funders
Class Actions 2018-09-12 11:15 pm By Christine Caulfield

Litigation funders should not be regulated by ASIC but by the courts, the corporate watchdog has told the Australian Law Reform Commission in response to proposals to overhaul the class action regime and subject funders to licensing requirements.

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Slater & Gordon targets banks, wealth managers in class action campaign
Class Actions 2018-09-11 10:51 pm By Miklos Bolza

Law firm Slater and Gordon will launch a series of class actions alleging the big banks and wealth managers ripped off more than $1 billion from members of their superannuation funds.

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Deloitte partners don’t have access to Hastie files, court told
Class Actions 2018-09-11 10:18 pm By Christine Caulfield

Accounting giant Deloitte is digging in for a fight over a court order to produce documents to a shareholder class over the firm’s auditing of collapsed engineering company Hastie Group, saying partners forced to hand over the files don’t have access to them.

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