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Big Four bank ANZ and superannuation trustee OnePath will pay $50 million to settle a class action brought on behalf of super members allegedly charged excessive fees.
A settlement has been reached on the eve of trial in a class action against ANZ and OnePath alleging they slugged super fund members with excessive fees.
An administrator has won $1 million more in costs for distributing a class action settlement, but a judge warned any ‘overshoot’ might not be borne by group members.
The ex-chair of former ANZ unit OnePath “has not been cooperating” in a class action alleging it breached its duties as a trustee of superannuation funds by slugging members with excessive fees to pay commissions to financial advisers, a court has heard.
The lead applicant in a class action over the alleged unlawful detention of 240 Indonesian children and the Commonwealth are locked in a battle over the construction of a $27.5 million settlement reached last year.
A class action against ANZ and former subsidiary OnePath has been given the green light to “significantly expand” its case against the big four bank, over three years after the case was first filed.
REST Super faces a class action alleging the supererannuation trustee deducted premiums for income protection insurance that provided no benefit to members.
Companies and government entities paid out less to settle class actions in 2023 than in the previous two years, with no mega settlements hitting their pocketbooks.
A $27.5 million settlement reached in a class action over the alleged unlawful detention of 240 Indonesian children has won court approval, but the applicant's legal costs remain subject to negotiations.
A franchise class action against United Petroleum has asked a court for leave to expand the class action to include a group of commission agents and to add the oil company's parent as a third defendant.