Most Recent
A $98 million settlement reached in two franchisee class actions against 7-Eleven is “appropriate" given the likelihood that the convenience store giant would have lost at trial, according to a contradictor who urged the court to reject a $25 million cut sought by the funder that backed the litigation.
Litigation funder Galactic should receive a $15 million commission for its work on two franchisee class actions against convenience store giant 7-Eleven, instead of the $25 million it has asked for, a court has heard.
The contradictor appointed to represent group members in an application for approval of a $98 million settlement of two franchisee class actions against 7-Eleven has raised "grave concerns" about criticism by the senior partner of the law firm running the proceedings.
Evidence of anxiety felt by 7-Eleven franchisees leading class actions against the convenience store giant was relevant to whether the funder could earn a $25 million commission from the proceeds of a settlement, a court has heard.
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.
A judge has declined a contradictor's calls to send an application for a common fund order in a class action against 7-Eleven, which recently settled for $98 million, to the Full Court.
A contradictor asked to weigh in on a $98 million settlement in class actions against 7-Eleven has said the Full Federal Court should decide an application by the funder for a common fund order, citing the importance of the issue.
Despite claims the $98 million settlement did not warrant a contradictor's scrutiny, a judge has appointed a contradictor to represent the interests of group members in franchisee class actions against 7-Eleven as he weighs the deal.
A $19.6 million legal bill racked up by the law firm behind two 7-Eleven class actions accusing the convenience store chain of misleading franchisees did not warrant the appointment of a contradictor to a hearing seeking approval of a $98 million settlement, a court has heard.
Convenience store giant 7-Eleven has agreed to pay $98 million to settle two class actions accusing it of misleading franchisees, the largest class action settlement reached so far this year.