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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”.
Following the failure of two class actions to prove market-based loss from the Commonwealth Bank’s disclosure breaches, the bank is fighting the class actions' bid to pursue individual ‘no transaction’ cases, saying they were “trying to keep something alive that is truly dead”.
A judge has signed off on Westpac's $130 million settlement in a class action over flexible commissions paid to car dealers, bringing to an end three cases brought by Maurice Blackburn against lenders.
A judge has signed off on Macquarie Leasing's settlement in one of three class actions against lenders over flexible commissions paid to car dealers.
A judge has said a $360 million settlement in a US class action could be relevant to deciding whether to vary a 25 per cent contingency fee in an Australian class action against Hino Motors, which settled for $87 million.
A judge has approved an $87 million settlement in a class action against Hino Motors, but says he needs to hear from a contradictor before greenlighting a law firm's 25 per cent contingency fee.
In the third decision approving an unaltered group costs order at the resolution of a class action, a judge has OK'd an $85 million settlement by ANZ, representing a $21 million payday for Maurice Blackburn.
Maurice Blackburn's costs in running a 'junk' insurance class action which settled for $34 million will not be fully covered under a 25 per cent group costs order, a court has heard.
A judge has approved a bid by two law firms to join forces in class actions against Harvey Norman, but has ordered that a costs monitor be appointed to protect against duplication.