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A contradictor has recommended the court trim $3 million from a funder's cut of a $67 million settlement in a class action against QSuper, saying the court should not allow 'double dipping' given the funder was shielded from some risk by ATE insurance.
Before the decision in the Brambles case this week -- the first shareholder class action to succeed at trial -- the path to proving loss from disclosure breaches was a thicket of, well, brambles. Now after six consecutive losses, Justice Bernard Murphy has paved the way for plaintiffs to prevail.
In the first shareholder class action to succeed at trial in Australia, a judge has found logistics chain company Brambles breached its continuous disclosure obligations in relation to an overly rosy 2017 financial forecast amid problems with its North American pallets business.
A judge has approved a settlement with KPMG in a shareholder class action over the collapse of mining company CuDeco, as well as a distribution scheme that will see payments to the funder but not group members.
Macquarie is fighting a bid to amend a class action over an alleged misleading prospectus for Nuix’s $1.8 billion IPO only months out from trial, calling the changes “unclear and unfair”.
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.
A judge has expressed concerns about a funder's novel application for its costs in a partially settled shareholder class action over the collapse of mining company Cudeco, saying everyone was getting a payday except group members.
Iplex Pipelines has argued builder BGC should hand over documents relating to its estimate that it will cost $123 million to fix homes it claims were fitted with faulty pipes manufactured by the Fletcher Building unit.
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.