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Firm accused of copying rivals’ class action pleadings loses IC Markets beauty parade
Class Actions 2024-08-02 10:13 am By Cat Fredenburgh

Two judges have declined to award carriage of a class action against International Capital Markets over risky derivative products to a firm accused of plagiarising its rivals’ pleading.

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Class action attacks ‘false’ logic of AG’s claim GCO a neutral factor in KPMG transfer bid
Class Actions 2024-07-30 11:17 pm By Sam Matthews

In submissions to the High Court, the applicant in a class action brought on behalf of Arrium shareholders against KMPG has attacked the Attorney-General’s argument that a contingency fee order is a neutral factor in assessing the accounting firm’s bid to move the case from Victoria. 

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Judge rejects law firm’s updated bid in Hyundai, Kia class actions
Class Actions 2024-07-17 11:50 pm By Sam Matthews

A judge has rejected a law firm’s attempt to update its bid to run class actions against Hyundai and Kia, saying the changes were intended to net the firm a competitive advantage in an upcoming fight for carriage of the class actions and different in substance from its previous position.

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Class action lawyer who has secured $230M from ratings agencies goes after Fitch again
Class Actions 2024-07-16 11:54 pm By Christine Caulfield

A class action has been filed against Fitch Ratings on behalf of investors represented by a lawyer who has taken on credit ratings agencies over risky financial products for over a decade.

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Contingency fees for class action lawyers are allowed, says Full Court
Class Actions 2024-07-05 11:05 am By Cindy Cameronne

Lawyers are allowed to take a cut from a class action settlement or judgment under a so-called solicitors’ common fund order, the Full Federal Court has ruled, saying they are a permissive use of the court’s power.

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Solicitors’ CFO ruling to bring more class actions to Federal Court, firms say
Analysis 2024-07-05 11:45 pm By Cindy Cameronne

The Federal Court is set to become a more attractive forum for class actions now that the Full Court has confirmed it has power to make orders granting solicitors a contingency fee from any settlement or judgment in a group proceeding.

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Law firms take aim at rival’s ‘copied’ pleadings in battle to run IC Markets class action
Class Actions 2024-07-04 11:08 pm By Sam Matthews

In a contest to run a class action against International Capital Markets over risky derivative products, a proposed consolidated proceeding has taken aim at third-to-file Banton Group for allegedly copying its case. 

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Judge slashes plaintiffs’ costs in Sydney light rail class action
Class Actions 2024-06-25 10:55 pm By Cindy Cameronne

A judge has ordered Transport for NSW to only pay 65 per cent of the costs of a class action over Sydney’s $3 billion light rail construction, finding it was not inappropriate to apportion costs even though the plaintiffs were largely successful.

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Contingency fee order in Arrium class action would remain in force in NSW, AG tells High Court
Class Actions 2024-06-20 11:55 pm By Sam Matthews

The NSW Supreme Court would have the power to deal with a contingency fee order made in a class action against KPMG if the accounting firm won its application to move the case from Victoria, making the existence of the order a neutral factor in the transfer bid, the federal Attorney-General has told the High Court.  

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Late tweaks to funding bids to be ‘held against’ firms in IC Markets beauty parade
Class Actions 2024-06-06 11:31 pm By Cindy Cameronne

A judge has warned two law firms competing to run a class action against IC Markets over risky contracts-for-difference that it will be held against them if they take a “holding position” on their funding proposals and attempt to negotiate their bids down later.

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