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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.
The firm behind a class action over Victoria's COVID-19 hotel quarantine debacle has won a group costs order providing for a 30 per cent contingency fee, after promising it won't ask for more down the road.
Crown Resorts is seeking $10 million in security for costs from the law firm running a shareholder class action accusing it of lax anti-money laundering compliance, arguing the sum is justified in light of the firm’s potential recovery under a tiered group costs order.
A law firm behind a class action against the state of Victoria over the COVID-19 hotel quarantine fiasco is seeking what would be the second highest contingency fee rate for running the case, saying the percentage was justified given the complexity of the novel claims.
In its bid for a 30 per cent group costs order, the applicant in a class action against Insurance Australia Group says the percentage shouldn’t be compared to lower proposed rates -- as low as 14 per cent -- in a battle to run a class action against Star.
The state of Victoria is making a bid to suppress its defence in a class action brought over the 2020 hotel quarantine fiasco, as it faces a “substantially altered” indictment in a related criminal proceeding.
A judge has cautioned two law firms running competing shareholder class actions over last October’s cyber attack on Medibank that they must keep their focus on the best interests of clients and group members, saying lawyers can lose sight of that duty when arguing for their case.
A judge overseeing a shareholder class action against Insurance Australia Group says more evidence is needed to back the applicant’s bid for an order giving lawyers 30 per cent of any recoveries.
The state of Victoria has foreshadowed a High Court challenge in its fight to stay a class action over the 2020 hotel quarantine in light of criminal action, an appeal it said raised issues relating to the “increasing and regular prosecutions” of government and corporate entities over health and safety laws.