A judge has approved a $110 million settlement in a class action against BHP over the collapse of a tailings dam, and has OK’d fees and commission reducing the sum by 50 per cent, despite concerns the costs were excessive.
A judge has questioned whether an agreed penalty against ANZ for overstating bond trading volumes is sufficient, noting the misrepresentations were “very significant”.
A collapsed developer and its builder have failed again in their dispute against a financier over the Pentridge Village development in Melbourne, with an appeals court taking a critical view of years of delays.
The funder and law firms that ran a shareholder class action against BHP over the collapse of the company’s Samarco Fundão dam in Brazil will seek approval for deductions that will see half of the $110 million settlement go to group members.
The firm wants a bigger slice of any recovery in its case against Paladin Energy, but its clearer funding arrangement and realistic litigation budget give it the edge over a rival class action outfit, a judge has found.
A contest to run a class action against Paladin Energy played out Monday, with two law firms each positioning themselves as the better bet, one for their funding and resources, the other for their contingency fee rate.
AMP has agreed to pay $120 million to settle a class action stemming from the banking royal commission which accused it of overcharging millions of superannuation members over a 12-year period.
A shareholder class action over BHP’s disclosures about a Brazilian dam that collapsed 10 years ago has settled for $110 million on the eve of trial, one of a handful of class actions to settle for over $100 million.
Former director of fintech iSignthis, John Karantzis, plans to appeal a ruling that slapped him with a $1 million penalty and disqualification orders for allegedly providing misleading information to shareholders.
A judge has handed iSignthis and its director $11 million in penalties for failing to give adequate disclosures and giving misleading information to the ASX, saying reliance on legal advice was no reason to reduce the fine.