The shareholder leading a class action against failed fund manager Blue Sky Alternative Investments has lost a bid for a split trial it accepted was novel, despite arguing the usual course for trials in securities cases was “misconceived”.
A Federal Court judge has predicted class action defendants will start arguing law firms cannot cooperate in running class actions, after a different judge hearing a case against Google recently remarked that such arrangements could be anti-competitive.
A class actions expert has found there has been a spike in contingency fee rates in Victoria over the last two years, expressing concerns that the regime enacted in 2020 may be going in a different way than intended.
A judge overseeing a class action on behalf of 300,000 allegedly underpaid McDonald’s workers wants to know the monetary value of the claims, while also questioning why the initial trial in the complex case is set to run for 35 days.
A class action against Blue Sky Alternative Investments won’t seek to transfer the case to contingency fee-friendly Victoria despite a High Court ruling that put the kibosh on solicitors’ common fund orders.
The High Court has unanimously found the Federal Court has no power to allow solicitors to take a cut of a settlement or judgment in a shareholder class action against Blue Sky, saying it would be contrary to rules against contingency fees in NSW.
Carnival has lost an appeal of a finding in a class action that it was negligent in preventing a COVID-19 outbreak aboard the Ruby Princess cruise ship, but an appeal by the applicant over damages has also failed.
AMP is facing a new class action alleging certain superannuation fund members were hit with inflated premiums over a five-year period, after arguing a similar matter was “in search of a case” more than four years after being filed.
Payments processing company EML has agreed to pay $37.3 million to settle a shareholder class action over its alleged failure to disclose Ireland central bank’s concerns with its anti-money laundering compliance.
A judge has dismissed applications by mortgage broker Lendi Group and insurer ALI Group to declass a group proceeding over allegedly worthless mortgage insurance, saying it would be more efficient for the claims to advance as a class action.