A judge has questioned why group members in a shareholder class action against Crown Resorts must wait until mid-2026 to receive the first slice of a $73 million settlement, which has already been paid by the casino operator.
A judge has cut a 35 per cent contingency fee sought by a law firm running a shareholder class action against Origin Energy, even after a different judge approved the rate in a separate case by the firm.
The law firm behind a class action against Origin Energy wants a 35 per cent contingency fee, arguing that a string of defeats in shareholders cases has “accentuated the uncertainty and complexities” of proving loss.
Casino operator Crown has agreed to pay $73 million over two years to settle a shareholder class action accusing it of lax money laundering compliance, with solicitors set to take home $20 million.
A court has approved a $64 million settlement in a consumer class action against the NAB units MLC Trustees and NULIS Nominees, with 69 per cent of the settlement sum to go to group members.
A judge has been asked to approve a $64.25 million settlement in a class action against the trustees of the MLC Super Fund, hearing the settlement, reached just prior to the dismissal of a similar class action, was on the “higher end”.
Class action settlements leaped in value last year, with three settlements topping the $200 million mark.
A class action on behalf of 330,000 super members has settled against the trustees of the MLC Super fund, just days after another superannuation class action flopped.
A judge has approved a settlement in a class action against Monsanto under which group members will get nothing, after he rejected claims that the company’s Roundup weed killer is carcinogenic.
Medibank is seeking to shield from a shareholder class action an “irrelevant” post-incident report by Deloitte into its massive October 2022 data breach.