Most Recent
The Commonwealth Bank has urged the High Court to uphold a ruling rejecting shareholders' damages claims in two class actions, saying the decision correctly rejected their "conflation of materiality with loss".
The law firm running a class action against Harvey Norman has won a 30 per cent group costs order, with a judge noting the trend towards “gradual increases” in contingency fee rates.
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.