A law firm has lost its bid to challenge a court order that it join forces with a competing firm in an investor class action against Blue Sky Alternative Investments and auditor EY.
A judge has approved a group costs order with a tiered contingency fee that will guarantee group members at least 72.5 per cent of any returns in a shareholder class action accusing Crown Resorts of lax anti-money laundering compliance over a six-year period.
A recent ruling cutting the contingency fee sought by a plaintiff law firm shows competition to run class actions will drive down the percentage payout courts are willing to permit. And as more firms enter the market for a slice of the returns, the downward pressure on profits will only build.
The Australian Securities and Investments Commission has sued health and beauty giant McPhersonâs Limited and its former CEO over alleged continuous disclosure breaches and misleading or deceptive conduct during a capital raise in late 2020.
A judge has granted a law firm’s bid for a group costs order in a shareholder class action against payments processing company EML, but has trimmed its proposed cut of any recovery after comparing it to the contingency fee rate the firm accepted in another class action.
A law firm wants to challenge a court order that it play nice with a competing firm in a class action for investors against Blue Sky Alternative Investments and auditor EY.
Boral has won its bid to shield from shareholders in a class action three investigative reports, including one by accounting giant EY, concerning financial irregularities in the construction company’s North America windows business.
Vanguard Investments has coughed up almost $40,000 for allegedly misleading investors about funds that purportedly did not invest in companies that sell or manufacture tobacco.
A shareholder class action against a2 Milk has won its bid to include claims under New Zealand law over the dairy company’s disclosures to the New Zealand stock exchange.
A judge has questioned a tiered contingency fee arrangement in a proposed group costs order by the law firm running a shareholder class action against Crown, asking whether the lower-end percentages were âmeaninglessâ.