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.
Binance has agreed to a $10 million penalty in ASIC’s case alleging the defunct crypto firm misclassified retail customers as eligible to invest in risky derivatives, but a judge wants more details before approving the deal.
The competition regulator has cited the public interest in its misuse of market power case against Mastercard in fighting suppression applications by the credit card giant and its heavy-hitter customers, including Coles and Visa.
A judge has ordered that a $5 million penalty ASIC won against Noumi be made available for distribution to group members in a class action against the food giant, on top of a $43 million settlement.
Real estate asset manager Dexus has won access to advice given by the lawyers of two shareholders of airport operator APAC over an alleged breach of a shareholder deed.
Dexus has claimed legal professional privilege prevents fellow owners of airport operator APAC from accessing tens of thousands of documents as they prepare for trial over an alleged breach of a shareholder deed.
Airport operator APAC has won access to Q&A logs in a data room set up by shareholder Dexus for prospective buyers, in a dispute over whether the real estate asset manager breached a confidentiality deed.
Airport operator Australia Pacific Airports Corporation has won its bid to delay an upcoming trial in a dispute with Dexus over alleged breaches of a shareholder deed, after the real estate asset manager discovered 20,000 documents only last week.
Mastercard can pursue an appeal of a ruling for the competition regulator requiring the credit card giant to hand over communications about its agreements with retailers, which are at the centre of a misuse of market power case.
The trustee for shareholders that want to retain their Dexus-managed stake in Australia Pacific Airports Corporation can’t be separately represented from the selling group, a judge has ruled in a case that pits APAC’s investors against each other.