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The law firm running a class action against Origin Energy has argued the case is “financially unviable” if it is stuck with a 30 per cent contingency fee ordered by the court, in the first-ever application to vary a group costs order.
Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.
The AFL has rejected claims it owed a duty to protect footballers from racism on the oval, saying the risk of racist abuse was caused by “prevailing attitudes” and comparable to the risk they faced in other areas of life.
A court has approved Crown Resorts' $72.5 million settlement of a shareholder class action, as well as a $20 million cut for the plaintiff's law firm.
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”.