Not to be outdone by other class action firms vying to recruit AMP shareholders for a $2 billion class action, Slater & Gordon announced Friday it would offer investors “the most competitive funding package of all”.
Boutique law firm Phi Finney McDonald is investigating a potential shareholder class action against BHP Billiton over the fatal Samarco disaster in Brazil, which saw the market value of the mining giant plummet by $25 billion.
ASIC’s newly installed chief on Thursday slammed banks and other financial firms for their “trust deficit” and vowed to deploy “every inch of our powers and tools” to go after violators.
The financing arrangement underwriting Quinn Emanuel’s shareholder class action against AMP, which will earn its partner Burford Capital a record low 10 percent of any recovery, sets a new standard in class action litigation funding, and is expected to spark greater price competition in the industry.
A bidding war erupted Tuesday among law firms angling to lead a $2 billion shareholder class action against AMP, with Maurice Blackburn announcing a “super deal” and Quinn Emanuel besting that with a funding arrangement to “shake up” the market.
The judge overseeing a Maurice Blackburn-led shareholder class action against Commonwealth Bank of Australia over allegedly lax anti-money laundering and anti-terrorism financing controls has struck out a portion of the statement of claim for “pleading deficiencies”.
A Sydney-based IT consultant faces multiple charges of insider trading after illegally accessing stock information from a financial publisher, the Australian Securities and Investments Commission said Monday.
Retail Food Group has been hit with a shareholder class action alleging it failed to make adequate disclosures regarding the financial health of its franchise network.
AMP says it will “vigorously defend” two class actions by shareholders in the wake of scandalous revelations at the Royal Commission that led to a $2 billion market cap drop.
The Federal Government’s $26 million cut to ASIC’s budget has been blasted by experts and the opposition for undermining the corporate regulator, already facing the heat of the Banking Royal Commission.