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A judge has rejected a bid to amend a shareholder class action against Beach Energy, saying the way the applicant had articulated its case on loss by reference to an expert report was “apt to lead to confusion”.
A self-disclosed error in modelling by the law firm that ran a class action against Hino Motors has cost the firm an even deeper cut to its payout than the $6 million lopped off its settlement share last year.
A judge has asked for more information on why he should approve $43.1 million in legal fees in a class action against AMP that settled for $120 million, calling the amount "extraordinary" and "troubling".
A law firm bringing a class action alleging Harvey Norman sold worthless warranties is seeking a 30 per cent group costs order, arguing times have changed and that the court should only consider GCOs awarded in the past year.
CBA plans to file a cross-appeal in the class actions before the High Court, contending the shareholders -- who argue they should have won their loss case -- failed to establish disclosure breaches at the threshold.
Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.
A judge has ordered a flat contingency fee at a rate below the maximum sought by the firm running a class action against Mineral Resources, agreeing with a colleague that recent shareholder class action losses don't justify a higher percentage.
A judge has questioned the tiered structure of a group costs order sought by the law firm running a class action against Mineral Resources, but the firm argued Wednesday it would need the highest rate if a flat fee were ordered.
Saying the appeals court committed "fundamental errors" in approaching their claim of loss, the applicants in failed cases against the Commonwealth Bank have appealed to the High Court, in a case that could clarity the elusive test for damages in shareholder class actions.
Two failed shareholder class actions against Commonwealth Bank have been returned to a judge to decide if 'no transaction' claims can still be pursued, a move CBA argues is a way to keep alive cases that are “truly dead”.