Group members in a class action against Fonterra are set to reap about $13 million from a $25 million settlement reached with the dairy company, following deductions including the costs of the litigation funder’s after-the-event insurance.
In reasons for approving a $41 million deal to settle one of three shareholder class actions over Slater & Gordon’s acquisition of a UK firm and awarding the funder 28 per cent, a judge has challenged a persistent notion that the interests of litigation funders and group members are at odds.
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 law firm has lost its bid to challenge a court order that it join forces with a competing firm in an investor class action against Blue Sky Alternative Investments and auditor EY.
Two Dixon Advisory insurers have lost a bid to limit the details of insurance policies handed over to a class action purported to worth $463 million, after a judge’s ruled the collapsed wealth manager should disclose its insurance for liability in the case.
A judge has signed off on a group costs order in class action against Allianz over add-on car insurance that will give plaintiff law firms Johnson Winter & Slattery and Maurice Blackburn no more than 25 per cent of any resolution in the case.
A law firm wants to challenge a court order that it play nice with a competing firm in a class action for investors against Blue Sky Alternative Investments and auditor EY.
A judge has ordered two law firms that filed competing shareholder class actions against failed Blue Sky Alternative Investments and auditor EY to team up to run a consolidated proceeding, despite opposition by one firm.
Nuix has pointed the finger at its accountant PricewaterhouseCoopers in the software company’s defence to a class action over a prospectus for its $1.8 billion IPO two years ago.
Fonterra has agreed to shell out $25 million to settle a class action by dairy farmers alleging they were underpaid when Fonterra slashed milk prices and sought a “clawback” in 2016.