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The Australian Securities and Investments Commission will not seek to enforce a $7.2 million penalty agreed to by Dixon Advisory after admitting to the regulator’s allegations that it failed to act in its clients' best interests.
Slater & Gordon has defeated Shine Lawyers in a contest to run a shareholder class action against Beach Energy, with a judge finding Shine’s tiered contingency fee arrangement was “mere window dressing”.
A judge has approved a $20 million settlement in a sham contracting class action accusing telco contractor BSA Limited of misclassifying its workforce of technicians as independent contractors.
Shine and Phi Finney McDonald’s fallback plan to cooperatively run a class action against Nuix has come under fire, with the technology company urging the court to make the two firms compete against one another for sole carriage.
US medical device maker Boston Scientific has agreed to pay $105 million to settle a class action on behalf of Australian women implanted with one or more of the company's pelvic mesh or sling products.
A judge overseeing the settlement approval of an underpayments class action against telco contractor BSA has questioned whether litigation funders should receive commissions lower than the market rate for running employment class actions.
Telco contractor BSA has won a bid to ringfence a $13 million capital raising from a $20 million settlement reached with group members in a Shine Lawyers-led class action accusing the company of misclassifying its workforce of technicians as independent contractors.
A judge who will oversee an upcoming hearing for approval of a $20 million settlement in a class action against Optus contractor BSA has urged the parties to sever the funder's commission and costs from the settlement to avoid delays in distribution to group members.
The ruling by the Full Federal Court that funded class actions are not managed investment schemes marks the end of an ill-considered regime enacted by the Morrison government to rein in class actions, but the debate over regulation of litigation funders is not over yet.
A victor remains to be crowned following a heated beauty parade between competing class actions against tech company Nuix, with two law firms facing criticism for their "cumbrous" consolidation proposal and a third firm copping flak for its "opaque" financials.