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$42M Murray Goulburn settlement wins approval, but fight over funder’s cut still on
Class Actions 2019-12-06 2:56 pm By Christine Caulfield

Two months after rejecting the deal because the litigation funder’s cut appeared excessive, a judge has approved a $42 million class action settlement with Murray Goulburn while the funder keeps up the fight over its commission.

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Judge says High Court did not rule out common fund orders at settlement
Class Actions 2019-12-06 1:58 pm By Christine Caulfield

The High Court’s ruling Wednesday that judges have no power to issue a common fund order in the initial phases of a class action does not bind them after a settlement has been reached, a Federal Court judge said Friday.

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Group members to get $100 or less under $1.5M ANZ class action settlement
Class Actions 2019-12-06 1:54 pm By Cat Fredenburgh

A judge has given the green light to a $1.5 million settlement in a long-running class action against ANZ alleging it slapped customers with illegal fees, with group members expected to get no more than $100 and potentially walking away with “substantially less” than this.

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‘Reasonable chance’ of settlement in Dick Smith class actions
Class Actions 2019-12-06 12:31 pm By Cat Fredenburgh

There is a “reasonable chance” that two shareholder class actions against failed electronics retailer Dick Smith will settle by February of next year, group members have learned.

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ISignthis sues ASX over suspension, says exchange went ‘looking for a problem’
Securities 2019-12-05 11:22 pm By Cat Fredenburgh

Melbourne-based fintech company ISignthis is taking the Australian Stock Exchange to court for refusing to lift the suspension of its shares and allegedly digging for confidential information to “find a problem”.

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Engineer blamed for design defects in Opal Tower class action
Class Actions 2019-12-05 10:55 pm By Cat Fredenburgh

The construction company behind Sydney’s Opal Tower has filed a cross claim seeking $30 million from structural architect WSP Structures over its allegedly faulty building design.

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JPMorgan witnesses grilled as banks seek to poke holes in ANZ cartel case
Competition & Consumer Protection 2019-12-05 9:21 pm By Miklos Bolza

Two key witnesses from JPMorgan have been grilled by lawyers for three major investments banks named in a high-stakes criminal cartel case as the banks seek to cast doubt on how the ACCC gathered evidence during its almost two-year cartel investigation.

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Higher commission rates, more closed class actions to follow High Court ruling
Analysis 2019-12-04 10:36 pm By Christine Caulfield

The end of the common fund order is a setback for class actions that will see a revival of the days of closed proceedings, costly bookbuilding, higher commission rates and the shelving of worthy but risky cases, experts say, and all eyes will now turn to state and federal governments to see how they respond to calls for legislative intervention.

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Israel Folau settles dispute with Rugby Australia over dismissal 
Employment 2019-12-04 10:07 pm By

Former Wallabies fullback Israel Folau has settled his lawsuit against Rugby Australia and NSW Rugby alleging his $5.7 million contract was unfairly terminated over homophobic social media posts.

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AMP group exec says bullying claims by former GC were news to her
Employment 2019-12-04 5:24 pm By Miklos Bolza

AMP’s group executive says she was never told of bullying claims made against her by former general counsel Larissa Cook until the lawyer filed a $2.7 million lawsuit alleging “hostile, aggressive and intimidating behaviour” in response to complaints she made about AMP’s fees for no service conduct.

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