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Solicitors’ CFO ruling to bring more class actions to Federal Court, firms say
Analysis 2024-07-05 11:45 pm By Cindy Cameronne

The Federal Court is set to become a more attractive forum for class actions now that the Full Court has confirmed it has power to make orders granting solicitors a contingency fee from any settlement or judgment in a group proceeding.

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Mayne Pharma reaches settlement in class action over antitrust probe
Class Actions 2024-07-02 11:46 am By Christine Caulfield

Generic drug maker Mayne Pharma has resolved a shareholder class action centred on disclosures connected to price-fixing claims by US regulators.

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Axsesstoday investor class action reaches settlement with PwC
Class Actions 2024-06-28 1:10 pm By Cindy Cameronne

A class action on behalf of Axsesstoday bondholders has reached a settlement with accountants PricewaterhouseCoopers, with a court hearing that group members will get almost 50 per cent of the proceeds. 

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Second highest contingency fee wins OK in class action against FleetPartners
Class Actions 2024-06-26 11:04 pm By Christine Caulfield

Previously noting the rate was “well outside the median range”, a judge has made an order granting the second highest contingency fee to a law firm running a shareholder class action against vehicle company FleetPartners Group, saying he was satisfied the group costs order was appropriate and necessary.

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Big Un liquidators push for trial date in case over financier’s share purchase
Restructuring & Insolvency 2024-06-26 10:57 pm By Andy Sidler

The liquidators of collapsed media company Big Un are pushing for a trial date in their two-year-old case against financier First Class Capital alleging a three million share purchase was part of a fraudulent design to inflate the collapsed company’s share price.

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CBA shareholders appeal trial loss in money laundering class actions
Class Actions 2024-06-25 11:16 pm By Cat Fredenburgh

Shareholders of Commonwealth Bank have lodged expected appeals challenging a decision tossing their class actions over alleged lax money laundering compliance, giving the Full Federal Court a chance to clarify when companies must disclose regulatory investigations.

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Worley wants new bench in second shareholder class action appeal
Class Actions 2024-06-21 11:45 pm By Andy Sidler

Counsel for Worley in a nine-year-old shareholder class action that is set for another Full Court appeal has foreshadowed a possible recusal application against the judges who heard the first appeal.

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iSignthis, former boss breached obligations over ASX disclosures, court finds
Fintech 2024-06-21 11:34 pm By Christine Caulfield

A court has found iSignthis and its former CEO Nickolas John Karantzis breached the Corporations Act in disclosures to the stock market about one-off revenue and the termination of the fintech’s business arrangement with Visa.

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Contingency fee order in Arrium class action would remain in force in NSW, AG tells High Court
Class Actions 2024-06-20 11:55 pm By Sam Matthews

The NSW Supreme Court would have the power to deal with a contingency fee order made in a class action against KPMG if the accounting firm won its application to move the case from Victoria, making the existence of the order a neutral factor in the transfer bid, the federal Attorney-General has told the High Court.  

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Mired in interlocutory skirmishes, protracted BHP class action just got more entangled
Class Actions 2024-06-20 11:48 pm By Christine Caulfield

BHP wants to appeal a decision giving a class action the OK to fix what a judge accepted was an “inadvertent mistake” that resulted in a ruling — itself the subject of an appeal — which limited the group member definition.

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