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The financing arrangement underwriting Quinn Emanuel's shareholder class action against AMP, which will earn its partner Burford Capital a record low 10 percent of any recovery, sets a new standard in class action litigation funding, and is expected to spark greater price competition in the industry.
A bidding war erupted Tuesday among law firms angling to lead a $2 billion shareholder class action against AMP, with Maurice Blackburn announcing a "super deal" and Quinn Emanuel besting that with a funding arrangement to "shake up" the market.
The judge overseeing a Maurice Blackburn-led shareholder class action against Commonwealth Bank of Australia over allegedly lax anti-money laundering and anti-terrorism financing controls has struck out a portion of the statement of claim for "pleading deficiencies".
Volkswagen has been ordered for a third time to provide the court with the names of employees who were involved in approving the emissions cheat software that's at the center of litigation by Australia's consumer regulator and several class actions against the German car maker.
A Federal Court judge has given the all-clear to a $132.5 million offer by QBE to settle a class action by shareholders angry about a $5 billion stock market wipeout for the insurance provider.
A judge on Tuesday consolidated two shareholder class actions against life sciences company Sirtex Medical and appointed Maurice Blackburn as lead lawyers for the joint proceedings.
Class action firm Slater & Gordon is preparing an investor class action against logistics company Brambles over alleged misstatements about revenue and sales growth for the 2017 financial year.
The first stage of the Australian trial alleging Volkswagen installed dual-mode software in diesel vehicles to cheat on emissions tests will wrap up Monday, when class action lawyers deliver a final rebuttal and closing arguments.
Volkswagen cars equipped with a software fix implemented in the wake of the emissions scandal are still emitting 400 percent more noxious emissions on road than in lab tests, according to a new study by the Australian Automobile Association.
Class action firm Maurice Blackburn is calling for investors to join a lawsuit against Retail Food Group accusing the franchise giant of misleading the market about the long-term viability of its business model.