The Full Federal Court has found the court’s recently-affirmed power to make common fund orders at settlement means the litigation funder that backed two class actions against 7-Eleven is entitled to a $24.5 million cut from a $98 million settlement, in a decision that slammed the parties for a settlement approval process that “went off the rails”, costing group members $2.5 million.
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.
The former CEO at Mexican fast food chain Zambrero has hit back at claims he exaggerated his role in the company’s rapid expansion, saying he was founder Dr Sam Prince’s “right hand man”.
Hungry Jack’s has resolved a case brought by a franchisee seeking a court injunction blocking the burger chain from launching two restaurantsĀ in close proximity to its sites on NSW’s Central Coast.
A judge has handed Ultra Tune a $1.5 million fine for contempt, saying the car repair franchise failed to meet the requirements of a court-ordered compliance program, instituted after the company copped a $2 million fine for contravening its disclosure obligations to franchisees.
A judge hearing an appeal by a funder over its cut of a $98 million settlement in franchisee class actions against 7-Eleven has said the $12 million commission was āplainly too littleā, and questioned if the class action judge had been “stuck” on the idea that common fund orders are bad.Ā
A judge has dismissed a franchisee class action against the Hogās Breath Cafe restaurant chain after the lead applicants failed to hand over $1.23 million in security for costs.
Honda Australia has been hit with a $6 million penalty for misleading communications made to customers of three dealerships during a restructuring in which the car maker’s shuttered its independent dealer network in favour of an agency model.
The Australian Securities and Investments Commission has banned a former AMP authorised representative who is suing the wealth manager for allegedly terminating him without proper cause and forcing him to sell his business for $6.1 million under its buyer of last resort program.
The date has been set for a hearing in the second case to test the argument that judges lack power to make a common fund order when a class action settles, and the litigation funder challenging the argument can expect a sympathetic ear.