Dairy supplier Murray Goulburn has agreed to pay $42 million to settle one of two shareholder class actions over a 2016 profit forecast revision that sent the co-op’s unit price falling more than 40 per cent in five days.
While no means a flood, the class actions filed in response to the shocking evidence of misbehaviour at last year’s banking royal commission have been steadily flowing and show no signs of drying up. Here, we give you the round-up of cases launched so far, the latest developments in each, and what’s coming down the pipeline.
A judge has granted a bid by the applicant in a class action against National Australia Bank over the sale of allegedly worthless credit card insurance to include customers who took out personal loan insurance, in a ruling that could significantly expand the case.
Slater and Gordon is looking to significantly expand its class action against National Australia Bank over the sale of “worthless” credit card insurance to include personal loan customers who were sold allegedly unsuitable insurance policies.
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.
AMP has been hit with a class action alleging it breached its duty of care to superannuation members by charging them unreasonably high fees, and a second class action is expected within weeks.
Law firm Slater & Gordon is planning a national class action against the makers of kitchen stone benchtops on behalf of thousands of stonemasons who allegedly contracted silicosis when making the popular luxe kitchen surfaces.
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.
A former senior lawyer at Slater & Gordon has filed a lawsuit against his old employer, claiming he was fired after complaining about allegedly unethical practices within the firm.