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Funder’s cut of S&P class action settlement to go under microscope
Class Actions 2018-07-05 11:25 pm By Christine Caulfield

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.

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Class seeks to slash Quinn Emanuel, Vannin’s fees by millions
Class Actions 2018-07-04 10:52 pm By Miklos Bolza

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.

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Firms abandon planned class actions against Retail Food Group
Franchises 2018-07-04 9:35 pm By Christine Caulfield

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.

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Judge tosses sailor class action over Navy’s broken promise
Class Actions 2018-07-04 4:20 pm By Christine Caulfield

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.

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Slater & Gordon to file class action against Brambles
Securities 2018-07-04 2:20 pm By Cat Fredenburgh

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.

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7-Eleven can make private settlement offers to class members, court says
Class Actions 2018-07-02 10:50 pm By Cat Fredenburgh

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.

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Cash Converters must answer questions on tax treatment of brokerage fees
Class Actions 2018-07-02 10:30 pm By Cat Fredenburgh

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.

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Commonwealth Bank hit with new class action over money-laundering breaches
Class Actions 2018-07-02 4:00 pm By Cat Fredenburgh

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.

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Murray Goulburn class can’t get docs to pursue Herbert Smith Freehills
Class Actions 2018-06-29 10:36 pm By Miklos Bolza

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.

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Ford class action trial date vacated for ‘procedural failures’
Class Actions 2018-06-28 11:52 pm By Cat Fredenburgh

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”.

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