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AGL Energy class action to be discontinued after search for new funder fails
Class Actions 2024-02-26 5:32 pm By Cat Fredenburgh

The applicant in a competition class action against AGL Energy has failed to find another funder to back the case after the original funder that bankrolled the case withdrew its support.

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Stanwell flags rare ‘no case to answer’ submission in Qld energy class action
Class Actions 2024-02-16 4:20 pm By Cindy Cameronne

Queensland power company Stanwell has flagged a possible ‘no case to answer’ submission in an upcoming competition class action trial that would seek to shut the case down mid-trial, with a judge saying it was “highly unlikely” to succeed. 

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Third law firm ‘waiting in the wings’ to file class action against IC Markets
Class Actions 2024-02-09 9:05 pm By Sam Matthews

International Capital Markets may soon face a third class action, a court has heard, as the first two class actions to be filed against the Sydney-based online broker over risky contracts for difference mull consolidation. 

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Big Un financier admits 3 million share purchase, denies knowledge of stock manipulation
Restructuring & Insolvency 2024-02-07 11:43 pm By Cindy Cameronne

Sydney financier First Class Capital has admitted it acquired three million shares in former market darling Big Un but has denied liquidators’ claims that the purchase was part of a fraudulent design to inflate the share price ahead of the video start-up’s collapse.

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Online broker IC Markets faces second class action over CFDs
Class Actions 2024-02-07 10:19 pm By Cindy Cameronne

Online broker International Capital Markets has been hit with a second class action for selling “excessively risky” derivative products known as contracts for difference to retail investors. 

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Law firms team up to run class action against IG Markets over CFDs
Financial Services 2024-02-06 3:04 pm By Cindy Cameronne

Two firms have agreed to consolidate their class actions against online trading platform IG Markets over risky CFDs, but the company failed in a bid to have the two funders behind the cases liable for 100% of any security for costs order lest one funder defaults.

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Mercedes-Benz hit with competing class action over emissions testing
Class Actions 2024-02-05 10:29 pm By Cat Fredenburgh

Mercedes-Benz has been hit with a competing class action over alleged defeat devices designed to cheat on diesel emissions tests, over a year after the first class action was filed.

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Care A2’s $358M cross-claim a ‘new front’ in battle with Gensco, judge says
Competition & Consumer Protection 2024-01-23 2:05 pm By Cindy Cameronne

Care A2 Plus must hand over $675,000 in security for costs to pursue a $358 million cross-claim in a lawsuit by former business partner Gensco, after a judge found the infant formula company’s claims were a “counterattack”, and not merely defensive. 

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Top 10 class action settlements of 2023
Top 10 Class Action Settlements 2024-01-05 4:07 pm By Cat Fredenburgh

Companies and government entities paid out less to settle class actions in 2023 than in the previous two years, with no mega settlements hitting their pocketbooks.

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Rival law firms will cooperate on Qantas class action after judge says both ‘at fault’
Class Actions 2023-12-18 11:54 pm By Cindy Cameronne

Two law firms running competing class actions against Qantas over flight cancellations during the COVID-19 pandemic have agreed to cooperate after a judge took them to task for revising their funding positions in the lead up to a courtroom battle.

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