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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.
Class action settlements leaped in value last year, with three settlements topping the $200 million mark.
Funder LLS has urged the court to approve its 20 per cent cut of a $202 million settlement in a stolen wages class action, saying that reducing the "bottom end" rate could deter investments in public interest class actions.
The Commonwealth says funder LLS should not be allowed a 20 per cent cut of a stolen wages class action settlement of up to $202 million, arguing it could produce an “excessive deduction”.
A court has approved a settlement worth up to $202 million in a stolen wages class action against the government, but will hear further argument on the legal costs of the case.
Shine Lawyers wants to claim $24.5 million in legal costs in a stolen wages class action on behalf of Northern Territory First Nations people, a sum a judge called “eye watering”.
A judge has signed off on a $7.2 million penalty against Dixon Advisory after the company admitted to ASIC allegations that its advisors failed to act in its clients' best interests by recommending they invest in a risky US-based real estate investment fund.
The Australian Securities and Investments Commission will not seek to enforce a $7.2 million penalty agreed to by Dixon Advisory after admitting to the regulator’s allegations that it failed to act in its clients' best interests.
A judge has put a climate change class action on behalf of Torres Strait Islanders on a tight timetable and committed herself to handing down judgment soon after trial, saying the case was one of "considerable urgency".
The lead applicants in a climate change class action by Torres Strait Islanders are hoping the Commonwealth will admit climate change targets set by the Morrison government were “woefully inadequate”, a court heard Friday.