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A judge has signed off on a $125 million settlement to resolve a shareholder class action against Crown Resorts over disclosures relating to its Chinese gambling operations, but has shaved $1 million from the funder's proposed commission.
US institutional shareholders who joined a class action against Crown Resorts that settled on the eve of trial for $125 million are urging the Federal Court to slash the funder's commission by $4.65 million.
The trustee of Mayfair Group's collapsed IPO Wealth Fund has reached an in-principle settlement in a class action alleging it misled investors, who lost $86 million when the fund was wound up.
A judge overseeing a joint class action against Freedom Foods and Deloitte wants to break a bad habit among litigators of attaching to affidavits reams of correspondence between solicitors, and she has a message for legal practitioners -- the court is not interested in what lawyers say to each other.
The liquidator of collapsed vocational education provider Careers Australia can serve its lawsuit on two of the company’s former directors now living overseas, after a judge found a prima facie case of insolvent trading and breaches of directors duties had been made out.
BHP Group has been granted special leave from the High Court to appeal a ruling that rejected its bid to exclude foreign investors from a shareholder class action over the 2015 Fundao dam disaster.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion's share, with $672 million in settlements under its belt.
The lawyers and funder behind a shareholder class action against Crown Resorts will be asking the court to approve fees and commission worth 35 per cent of a $125 million settlement with the gaming giant, leaving over $81 million for group members.
A judge has directed that the legal fees and funding commission sought to be deducted from a $125 million class action settlement with Crown Resorts be included in a proposed notice to shareholders, after learning that group members were forced to click through to Maurice Blackburn's website to find the "critical" figures.
Crown Resorts has reached a $125 million settlement in a shareholder class action, avoiding a six-week trial scheduled to begin on Monday.