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A judge is concerned that if he approves all payouts sought by lawyers and funders from a $13.5 million settlement in a class action against a Quintis director, group members will only he left with just 18 per cent.
Former NAB superannuation fund trustee NULIS is seeking the first ever award of indemnity costs in a class action that flopped following the rejection of a settlement offer.
In the latest class action loss, a judge has said that $165 million in fees charged to members by NAB super fund trustee NULIS Nominees was corporate revenue “with which it was free to deal as it saw fit".
Element Zero has denied claims that three former Fortescue employees, including one executive, misused confidential information and developed a green iron process on the company dime.
A class action against NAB unit NULIS Nominees over adviser fees charged to superannuation fund members should be dismissed, a judge has found.
Green iron start-up Element Zero is continuing its fight over search orders won by rival Fortescue that it claimed were a massive over-reach.
Fortescue has defeated a bid by its former CFO’s green iron start-up to set aside search orders that were said to have been secured “off the back of egregious material non-disclosure”.
Cosmetics maker Self Care has won its case against companies with ties to China that were found to have sold counterfeit versions of its popular Freezeframe anti-ageing creams.
Citing the significant time and costs invested in the litigation, the applicant in the second filed class action over the collapse of Quintis wants his half of a $4.37 million settlement with the sandalwood producer to fund ongoing costs in what remains of the case.
Fortescue has rejected Element Zero’s “implausible” claims that the start-up's founder was instructed by the mining giant's IP manager to access and delete certain documents after his resignation, as it defends allegations that search orders it won over the alleged misappropriation of its confidential information were based on weak evidence.