The judge overseeing seven class actions against S&P Global Ratings over toxic financial products has appointed a barrister to advise him on whether to approve a confidential global settlement, which would give funder Litigation Capital Partners about half the payout.
The lead applicant in a resolved class action against Bank of Queensland has argued law firm Quinn Emanuel and litigation funder Vannin Capital should have their costs slashed by millions of dollars, saying their fees left little of the settlement for group members.
Law firm Maurice Blackburn has dropped plans for a class action against Retail Food Group alleging the franchisor misled shareholders about the long-term viability of its business model.
A judge has dismissed a proposed class action against the Commonwealth of Australia alleging it breached a contract to train enlisted Navy sailors to earn engineering degrees, ruling the contract void.
A shareholder class action will be filed against Brambles now that IMF Bentham has agreed to unconditionally fund the case over alleged misstatements related to the logistics company’s 2017 financial year sales and revenue forecasts.
A judge has found 7-Eleven is free to make confidential settlement offers to individual members in two class actions brought by franchisees, shooting down a bid by the applicants’ lawyers to get the court involved in the convenience store giant’s communications with class members.
A Federal Court judge has ordered Cash Converters to provide answers to how it treated its brokerage fees for tax purposes, as it faces new class action allegations that the brokerage fees it charged individuals who took out pay day loans were actually for services it received.
Commonwealth Bank of Australia is facing a second shareholder class action after agreeing to fork over $700 million to settle anti-money laundering claims by the government’s financial intelligence agency.
The lead applicant in a class action against Murray Goulburn has lost a bid for access to documents showing the dairy cooperative’s trust consulted with a QC about possible negligence claims against Herbert Smith Freehills.
The judge overseeing a massive class action against Ford over its PowerShift transmission has vacated the trial date, blaming the lead applicant’s numerous “procedural failures”.