Settlement

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".

Sydney Trains has reached an in-principle agreement to settle a class action by operations staff alleging a “systemic pattern” of underpayments and overwork.

Slater & Gordon has settled a lawsuit by its former HR head alleging she was axed after expressing concerns that the firm deliberately underpaid over $300,000 in leave entitlements.

London City Equities has reached a settlement with listed firm Excelsior in a case alleging shareholder oppression over a decision to sell off a subsidiary for $101 million and not distribute the proceeds.

A judge has approved a "modest" $8.7 million settlement in a class action against medical device maker Exactech over allegedly defective joint replacements, saying the settlement was fair and reasonable given the limited assets of the company, whose parent has filed for bankruptcy in the US.

A class action on behalf of thousands of victims of the December 2019 Cudlee Creek bushfire has reached a confidential settlement with two individuals, while claims worth $200 million against SA Power Networks have proceeded to trial. 

A class action over alleged inflated insurance policy premiums charged by advisers of two Commonwealth Bank wealth management licensees has settled, the second class action over CommInsure to resolve this week.