Shine Lawyers and Slater & Gordon on Tuesday denied media reports that the two law firms were in merger talks or that there were any imminent plans for a union.
Publicly-traded law firm Shine Lawyers has reached a confidential agreement to settle a class action alleging it misled shareholders about the value of ongoing business activities, the first ever settlement of a class action in Queensland.
The government has won a victory following a lengthy trial in a class action brought on behalf of businesses alleging they were harmed when the Rudd Government cancelled a program that subsidised home insulation installations during the economic downturn.
The applicants in the Iluka Resources shareholder class action have been given a two month extension to provide a $1.25 million security for costs, after they managed to secure an in-principle deal with a new litigation funder.
A judge has praised funder IMF Bentham for not seeking to recover from group members the cost of a withdrawn common fund application in one of Shine Lawyer’s toxic foam class actions, agreeing instead to cop the loss itself.
Law firm Quinn Emanuel Urquhart & Sullivan has told the court it will appeal a judgment permanently staying its shareholder class action against AMP over the wealth manager’s fees for no service scandal.
A judge’s decision to pick Maurice Blackburn’s no win, no fee class action against AMP over three funded class actions puts the pressure on litigation funders, which will now face more competition from law firms prepared to go it alone, experts say. The ruling also shows the value courts place on funding arrangements that seek to maximise returns for class members, which means class action beauty parades are sure to get less ugly.
Maurice Blackburn’s shareholder class action against AMP — the only action not backed by a litigation funder — has been picked as the winner in a fierce battle of law firms vying to lead a high stakes case over the wealth manager’s fees for no service scandal.
A ruling by a judge deciding a four-way contest to run a shareholder class action against AMP is expected this week, a judgment significant not just because it is the first time a court in Australia has been asked to choose among so many competing representative cases.
US hedge fund Oaktree Capital has placed fund manager Blue Sky Alternative Investments into receivership, following a tumultuous period marked by the loss of senior executives and three shareholder class action investigations amid concerns about the company’s method for valuing its assets under management.