Settlement

Gaming company Light & Wonder will pay $190 million to settle Aristocrat’s litigation in Australia and the United States alleging it misappropriated trade secrets in developing two poker machines.

A judge has ordered the administrator for two class actions over PFAS contamination that settled for $153 million to pay the leftover funds to group members rather than to charities, saying it was not appropriate “to go around making donations”. 

A Federal Court suit by HR company Employment Hero accusing investor and rival Seek of misusing its market power has been resolved.

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.

Macquarie Securities has agreed to pay a $35 million penalty in a civil suit brought by the Australian Securities and Investments Commission alleging systemic misreporting of short sales over a 14-year period.

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 court has signed off on a $6.8 million settlement in a class action against a Queensland trucking company on behalf of owners of cargo on a freight train derailed by a truck at a level crossing.

AMP has agreed to pay $29 million to settle a class action alleging insurance customers were overcharged, putting to rest another case stemming from "serious misconduct" that came to light curing the 2018 banking royal commission.

A judge has approved a $110 million settlement in a class action against BHP over the collapse of a tailings dam, and has OK'd fees and commission reducing the sum by 50 per cent, despite concerns the costs were excessive.

A judge has questioned whether an agreed penalty against ANZ for overstating bond trading volumes is sufficient, noting the misrepresentations were "very significant".