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A judge has expressed concerns about the plaintiff’s proposed group costs order rate in a shareholder class action against fleet management company FleetPartners, saying the purpose of the GCO regime was to lower costs to group members.
The plaintiffs in a class action against a group of surgeons who worked for The Cosmetic Institute have told a court that a costs assessment is not necessary to approve a $25 million settlement, which will see $10 million deducted for legal and administrative costs, in light of reductions to the fees.
A Perth-based forex trader that allegedly failed to return investors’ funds or any profits made on trading has taken no steps in the undefended class action, a court has heard.
Omni Bridgeway will book a smaller-than-expected loss from its investment in failed shareholder class actions against the Commonwealth Bank of Australia that it spent close to $10 million on, having curbed its exposure by selling a stake in the group proceedings.
The law firm behind a class action over cancelled Qantas flights has confirmed the case continues despite a $120 million settlement with the consumer regulator, and has called on the airline to follow through on its pledge to restore customers' confidence.
Qantas will pay a $100 million penalty and another $20 million in compensation in a settlement of the ACCC's so-called ghost flights case that includes an admission by the airline that it engaged in misleading and deceptive conduct in selling tickets for cancelled flights.
A judge has questioned the “independent skill and judgment” applied to the pleading in a third class action filed against International Capital Markets over risky derivative products, amid a “hot contest as to carriage and forum”.
The law firm and funder that ran a class action against Retail Food Group on behalf of current and former franchisees of its Michel's Patisserie chain will be out of pocket, after the company agreed to a settlement under which it will pay nothing.
ASIC has brought proceedings against renewables company Magnis Energy Technologies and its executive chairman for allegedly misleading the market about the capabilities and funding for the company's "flagship" battery production facility in New York.
Fashion retailer Mosaic Brands has flagged various COVID-related defences to a case brought by the Australian Competition and Consumer Commission alleging it failed to deliver several hundred thousand products to customers within advertised time frames.