Judges do not have the power to approve a class action settlement without first issuing an opt-out notice to group members, the court-appointed contradictor in two shareholder class actions against online fashion retailer Surfstitch told the NSW Supreme Court Thursday.
An appeals court has rejected the funder’s commission and legal fees stemming from a $64 million settlement in litigation over the failure of Banksia Securities, but granted approval to the settlement.
A month after successfully arguing for the recusal of a state Supreme Court justice from an upcoming trial over the collapse of Queensland Nickel, Clive Palmer is calling for the replacement judge to step down, alleging he too is biased against him.
Hong Kong-based conglomerate CITIC and two of its subsidiaries have taken mining magnate Clive Palmer and his firm Mineralogy to court over the $5.8 billion Sino Iron Ore Project in Western Australia.
Quinn Emanuel has filed a class action against Volkswagen over cars fitted with defective Takata airbags, the seventh class action filed by the firm in what’s been touted as one the largest consumer class actions in Australia.
Fundraising company Appco Group has dropped its appeal of a judge’s decision to let an $85 million wage case against it move forward as a class action.
ASIC has been given a little over a month to provide ANZ with documents it collected during the course of its investigation into a $2.5 billion ANZ share placement, as the bank, which is facing a related criminal cartel case, mulls whether to file an application to stay the regulator’s action.
Blasting the battle of competing class actions as a fight for the “commercial interests” of litigation funders not class members, a judge has called on lawyers for two shareholder actions against Brambles to settle the dispute themselves.
A Federal Court judge has ordered Volkswagen to produce documents related to its calculations on how its emissions cheating scandal could affect car prices.
Woolworths has shot back at claims in a shareholder class action that it breached its continuous disclosure obligations, saying the lawsuit doesn’t allege there was material information it should have disclosed to shareholders in advance of its downward revision of a 2015 profit guidance.