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Payments processing company EML has agreed to pay $37.3 million to settle a shareholder class action over its alleged failure to disclose Ireland central bank’s concerns with its anti-money laundering compliance.
A judge has recused himself from hearing a class action against Fletcher Building, and has imposed a ban on presiding over any cases involving Maurice Blackburn for a period of time.
Professional services giant KPMG has reached a settlement in a shareholder class action over the failure of mining company Cudeco.
A $67 million settlement has been reached in a class action alleging Queensland-based superannuation fund QSuper overcharged members for life insurance premiums.
In explaining where CBA shareholders went wrong in proving damages from the bank's omissions over an AUSTRAC probe, the Full Federal Court has given class action plaintiffs the clearest indication yet of how they might win.
The failure of two class actions to prove loss linked to the Commonwealth Bank's disclosure breaches was not the fault of the bank, an appeals court has held in dealing the latest blow to shareholder group proceedings.
Two class actions against Commonwealth Bank have partially succeeded on appeal, with a finding that the bank breached its continuous disclosure obligations, but damages still elude shareholders.
Resolving a split between courts, the High Court has confirmed that judges have power to make soft class closure orders, which require class action members to register before mediation to participate in any resulting settlement.
A judge has approved a $180 million settlement in a stolen wages class action but has criticised the plaintiff's law firm for the costs incurred in the case and raised doubts about the value of litigation funding.
Applicants in class actions against Hyundai and Kia have complained they are being left in the dark about whether a competing set of cases will amend their pleadings ahead of next month's law firm carriage fight.