The funder behind a class action against the operator of Gladstone Port has bowed out after spending $30 million on the case, and is weighing proceedings to recover its sunk costs from the law firm that initially ran the litigation.
AMP has agreed to pay $120 million to settle a class action stemming from the banking royal commission which accused it of overcharging millions of superannuation members over a 12-year period.
CBA-backed venture capital firm Wollemi has reached an agreement to resolve a trade mark dispute with the family office of Tesla chairwoman Robyn Denholm.
A judge has hacked Maurice Blackburn’s promised cut of an $87 million settlement in a class action against Hino Motors, saying the 24.66 per cent group costs order previously approved by the court would result in a “disproportionate return” to the 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 class action over the Morrison government’s Robodebt scheme has settled for $548.5 million, the largest class action settlement in Australia’s history, on the back of damning revelations in a royal commission report released after the class action originally settled for $112 million.
A judge has signed off on Westpac’s $130 million settlement in a class action over flexible commissions paid to car dealers, bringing to an end three cases brought by Maurice Blackburn against lenders.
A judge hearing a class action over the collapse of mining company Cudeco has questioned why, despite an in-principle settlement being reached with auditor KPMG, the parties have not sought to formally dismiss the claim.
A judge has signed off on a $59 million settlement in a class action accusing five banks of foreign exchange rate-rigging, while bemoaning the failure of successive attorneys-general to advance reforms clarifying the court’s power to make class closure orders.
A judge has said a $360 million settlement in a US class action could be relevant to deciding whether to vary a 25 per cent contingency fee in an Australian class action against Hino Motors, which settled for $87 million.