Most Recent
The funders that bankrolled a securities class action against collapsed engineering firm RCR Tomlinson will ask the court to give them an $8 million cut of a $40 million settlement. A further $12 million in legal fees means shareholders will get 50 per cent of the settlement sum.
Companies and government entities paid out less to settle class actions in 2023 than in the previous two years, with no mega settlements hitting their pocketbooks.
In a victory for Zurich Australia, the Australian Securities and Investments Commission has lost its first-ever civil penalty case alleging an insurer failed to act with utmost good faith during claims handling.
EFTPOS provider Tyro has won a year-long injunction against an authorised representative that pushed competing payment system Lightspeed on its customers, in breach of a restraint of trade clause in their contract.
Shareholders of failed engineering firm RCR Tomlinson have secured a $40 million settlement in a class action brought over alleged misleading ASX statements.
A judge has approved a walk-away settlement with two former directors of RCR Tomlinson in a shareholder class action against the failed engineering company.
Seven Network has dropped its lawsuit accusing Cricket Australia of breaching their media rights agreement, after reportedly reaching a new five-year agreement with the sports league.
A costs report in a settled class action against Woolworths that recommended almost $800,000 in legal fee deductions failed to wrestle with a key factor in weighing the proportionality of the costs, a judge has said.
Class action settlement sums reached new highs last year, with the ten largest agreements totalling almost $1 billion, almost half of which was secured by one plaintiff law firm.
A judge hearing a contract dispute between Seven Network and Cricket Australia has knocked the sporting body’s defence, in which it argues that Seven’s pleadings are ‘vague and embarrassing’, expressing his “growing frustration” with the phrase.