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Third law firm ‘waiting in the wings’ to file class action against IC Markets
Class Actions 2024-02-09 9:05 pm By Sam Matthews

International Capital Markets may soon face a third class action, a court has heard, as the first two class actions to be filed against the Sydney-based online broker over risky contracts for difference mull consolidation. 

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‘Not a suitable vehicle’: Judge rejects bid to knock out Aldi class action
Class Actions 2024-02-09 9:17 pm By Sam Matthews

A judge has dismissed Aldi’s bid to have a class action alleging it underpaid Australian workers to the tune of $150 million summarily dismissed, saying the application was “not a suitable vehicle” to determine factual issues including whether a $17 million remediation nullifies the class action’s claims. 

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Judge says settlement offers should operate as bulwark against costs in class actions
Class Actions 2024-02-09 10:10 pm By Cindy Cameronne

A judge has held that there could be favourable costs consequences for Carnival if its rejected $15 million settlement offer in the Ruby Princess class action turns out to be more generous than the ultimate damages award, departing from a previous ruling that so-called Calderbank offers do not operate in group proceedings. 

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Detainees to launch class action against government in Federal Court
Human Rights 2024-02-08 11:34 pm By Cindy Cameronne

Asylum seekers who were put in immigration detention in South Australia can transfer their cases to the Federal Court to run their claims as a class action accusing the federal government of negligence and unlawful detention.

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Airbags class action against Volkswagen suffers High Court loss
Appeals 2024-02-08 10:28 pm By Cat Fredenburgh

The High Court has refused special leave in a failed class action against Volkswagen over allegedly defective Takata airbags.

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Worley shareholder class action takes another trip to appeals court
Class Actions 2024-02-07 11:09 pm By Christine Caulfield

It’s a case of déjà vu in a class action against engineering services company Worley, with shareholders heading back to the appeals court after losing a second trial in their drawn out fight over disclosure breaches.

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Online broker IC Markets faces second class action over CFDs
Class Actions 2024-02-07 10:19 pm By Cindy Cameronne

Online broker International Capital Markets has been hit with a second class action for selling “excessively risky” derivative products known as contracts for difference to retail investors. 

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Judge approves 27.5% GCO in ‘complex’ Medibank class action
Class Actions 2024-02-06 10:23 pm By Sam Matthews

A judge has signed off on a 27.5 per cent group costs order in a consolidated shareholder class action against Medibank over a cyberattack that affected 10 million customers, noting the “significant risk” taken on by the two plaintiff law firms running the action. 

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Law firms team up to run class action against IG Markets over CFDs
Financial Services 2024-02-06 3:04 pm By Cindy Cameronne

Two firms have agreed to consolidate their class actions against online trading platform IG Markets over risky CFDs, but the company failed in a bid to have the two funders behind the cases liable for 100% of any security for costs order lest one funder defaults.

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3M may face class action over ‘defective’ combat earplugs
Class Actions 2024-02-06 9:57 pm By Christine Caulfield

US consumer goods giant 3M is facing a possible class action on behalf of members of the Australian Defence Force who allegedly suffered hearing loss from defective combat earplugs.

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