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The High Court has agreed to step in to resolve division among Australia's courts on the question of power to make orders that exclude unregistered group members from class action settlements.
A shareholder class action against BHP has sought more time to finalise its pleadings ahead of trial, after a judge threw out two class actions against the Commonwealth Bank that also alleged continuous disclosure breaches.
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.
The judge overseeing a six-year-old class action against BHP over the collapse of a Brazilian dam has allowed the applicant to retroactively amend the group definition, accepting that a pleading mistake was contrary to the intended class membership in the case.
The High Court has been asked to overturn a NSW Court of Appeal decision finding it had no power to exclude unregistered group members from a settlement, which conflicted with Federal Court precedent, hearing the divergence of the important issue “can only be resolved by the High Court”.
The NSW Court of Appeal has said it has no power to exclude group members who do not sign up to a class action from participating in a settlement, upholding a controversial decision that the Full Federal Court said was “plainly wrong”.
Construction giant Boral has lost its bid to block a class action from running a 'novel' argument that shareholders suffered loss because of natural fluctuations in share price, rather than as a direct result of alleged continuous disclosure breaches.
A judge has approved a 24 per cent group costs order in a consolidated class action against a2 Milk, noting the complexity of the claims against the dairy giant and saying a GCO would align the class action lawyers' interests with group members'.
In a shareholder class action targeting Boral, the construction materials giant has lost a bid to limit the class to registered group members until judgment, with a judge saying there was no reason to keep the class closed after mediation.
A judge who eviscerated a prior bid by a law firm and funder to take home 60 per cent of a $5 million class action settlement with Tyro has allowed them to net half of the proceeds, questioning whether some of the costs amounted to a “complete breach” of legal professional duties.