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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 court has approved Crown Resorts' $72.5 million settlement of a shareholder class action, as well as a $20 million cut for the plaintiff's law firm.
A judge has questioned why group members in a shareholder class action against Crown Resorts must wait until mid-2026 to receive the first slice of a $73 million settlement, which has already been paid by the casino operator.
Casino operator Crown has agreed to pay $73 million over two years to settle a shareholder class action accusing it of lax money laundering compliance, with solicitors set to take home $20 million.
The state of Victoria has attacked the “magical thinking” of a class action over its COVID-19 hotel quarantine debacle, as the applicants seek to plead an alternative case holding the state responsible for a wave of infections.
The state of Victoria has sounded alarm bells about an amendment application by a class action over the COVID-19 hotel quarantine debacle, telling a judge it amounts to a new case with an “infinite number of permutations”.
An email to lawyers at Clifford Chance relied on to show investor Fiona Lock’s understanding of a contested $150 million profit sharing deal with trading platform Pepperstone did not open the door to further correspondence.
A judge has granted broad discovery to a shareholder class action against IAG over COVID-related disclosures, saying the documents sought were relevant to determining the likelihood the insurer knew of the risk that it would have to pay out business interruption claims covered by polices that referenced defunct legislation.
A judge has ordered Crown Resorts to share the costs of soft class closure with the plaintiff in a shareholder class action accusing it of lax anti-money laundering compliance, saying that soft class closure ahead of mediation was in the interests of both parties.
The law firm behind a class action against Insurance Australia Group has secured a group costs order that will give it 30 per cent of any proceeds -- a contingency fee rate six percentage points higher than the median rate for shareholder cases.