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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.
The law firm and funder behind the settled class action against QSuper will seek almost $31 million in costs and commission at an upcoming hearing.
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.
Pointing to a pattern of non-compliance with his orders, a judge hearing a shareholder class action over the collapse of mining company Cudeco has expressed concerns about “significant" delays in the case.
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.
A judge has approved a 35 per cent group costs order in a shareholder class action against WiseTech, but said the relatively high rate could be revisited by the court at a later stage in the case.
The law firm running a shareholder class action against WiseTech is seeking a group costs order that would give it a 35 per cent cut of any settlement, arguing the relatively high rate was justified by the risks of running the case.
A judge has OK'd a settlement in a class action against Treasury Wine Estates, along with $27 million in fees charged by Maurice Blackburn and Slater & Gordon, after initially questioning the difference between the firms' rates.
A judge has balked at Maurice Blackburn's hourly rates in a jointly run class action against Treasury Wine Estates, questioning why the firm charged 20 per cent more than fellow preeminent class action firm Slater & Gordon.
A $67 million settlement has been reached in a class action alleging Queensland-based superannuation fund QSuper overcharged members for life insurance premiums.