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Judge sprays Shine’s ‘left field’ bid to kick rival off Blue Sky, EY class action
Class Actions 2022-12-21 4:24 pm By Sam Matthews

A judge has rejected Shine Lawyers’ second bid to challenge a court order that it join forces with rival Banton Group in an investor class action Blue Sky Alternative Investments and auditor EY, saying the firm’s funder LCM was trying to “take the bat and ball and go home.” Federal Court Justice Michael Lee rejected…

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Funder’s commission cut by 33% in ‘lower risk’ employment class action
Employment 2022-12-01 3:28 pm By Cindy Cameronne

A judge has cut a funder’s commission by 33 per cent after approving a $20 million settlement in a sham contracting class action against telco contractor BSA Limited, finding that funders should receive “significantly lower” payouts in employment cases.

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Judge slashes Opal Tower funder’s cut of class action settlement
Class Actions 2022-11-28 11:35 pm By Cindy Cameronne

A judge has approved a confidential settlement in a class action on behalf of 383 apartment owners in Sydney’s Opal Tower but slashed the amount sought by the funder.

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Battle to lead Blue Sky shareholder class action is on
Class Actions 2022-11-21 3:28 am By Cat Fredenburgh

The law firm that filed a second securities class action against failed Blue Sky Alternative Investments and auditor EY has moved swiftly to stay a competing class action brought three months ago.

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Funder’s $13.2M cut is 26% of Opal Tower class action settlement
Class Actions 2022-11-11 11:00 pm By Cindy Cameronne

The litigation funder bankrolling a class action on behalf of 383 apartment owners in Sydney’s troubled Opal Tower is seeking a 26 per cent commission totalling $13.2 million of the confidential settlement sum, a court has heard. 

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Shareholders launch second class action against Blue Sky, EY
Securities 2022-11-08 11:57 pm By Cat Fredenburgh

A second securities class action has been filed against failed Blue Sky Alternative Investments and auditor EY alleging financial reports materially overstated the health of the asset manager ahead of its collapse three years ago.

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‘Not a suburban golf club’: Judge slams delays in Blue Sky class action
Class Actions 2022-11-02 2:38 pm By Cindy Cameronne

A judge has criticised the applicant in a class action against failed asset manager Blue Sky Alternative Investments for filing court documents late, as he prepares to grapple with an imminent competing class action.

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Uber loses fight to protect advice by lawyers sought to ‘avoid being caught’
Class Actions 2022-10-28 1:15 pm By Cindy Cameronne

Uber has lost its challenge to a decision that found many of its email exchanges with lawyers were made in furtherance of offences at the centre of class action claims and were not protected by legal professional privilege.

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High Court rejects Worley’s plea to weigh in on disclosure test in shareholder class actions
Class Actions 2022-10-21 11:32 pm By Christine Caulfield

In a boost to shareholder class actions, the High Court has dismissed an application by engineering services firm Worley to appeal a finding that companies should disclose to the market forecasts that ought reasonably to have been held.

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Funder’s commission holding up Opal Tower class action settlement
Class Actions 2022-10-11 9:56 pm By Sam Matthews

A $13 million commission sought by the funder that bankrolled the Opal Tower class action is stalling settlement approval, as debate continues over whether the funder can recoup the costs of after-the-event insurance from group members.

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