Shine Lawyers has withdrawn an application to increase its payout from a class action against EML Payments, which has settled for $37.2 million.
The contingency fee rate sought by Shine Lawyers in its bid to vary a group costs order in a class action against EML Payments has been revealed as the percentage profit it initially proposed to a judge, who took an ax to it three years ago.
Pharmaceutical giant Johnson & Johnson has denied knowingly selling alleged ineffective medications under its Benadryl, Sudafed and Codral brands, saying research indicated the phenylephrine-containing products worked.
Shine Lawyers has come under fire from a judge, after the firm filed an application to materially vary a 24.5 per cent group costs order in a settled shareholder class action against EML Payments.
Piper Alderman claims a judge erred in finding there was no evidence that an agreement between Maurice Blackburn and Phi Finney McDonald to cooperate in running an ad tech class action against Google was struck for an anti-competitive purpose.
Saying the appeals court committed “fundamental errors” in approaching their claim of loss, the applicants in failed cases against the Commonwealth Bank have appealed to the High Court, in a case that could clarity the elusive test for damages in shareholder class actions.
A judge has ordered embattled Optus to pay a $100 million penalty for “appalling” contraventions, after the telco admitted staff pressured customers into buying phones they couldn’t afford.
A court has approved Crown Resorts’ $72.5 million settlement of a shareholder class action, as well as a $20 million cut for the plaintiff’s law firm.
Renewables and energy storage company Edify Energy has been acquired by Canadian pension fund La Caisse in a $1.1 billion deal, which includes investments in two planned solar and BESS hybrid projects.
Mining giant BHP and its in-house labour hire subsidiary have failed in their Federal Court bid to stay same job, same pay orders by the Fair Work Commission ahead of an appeal.