A ruling that clarified the materiality requirement in continuous disclosure cases could lead to more regulatory actions and activist shareholder claims, but won’t boost shareholder class actions, experts say.
A judge has restrained Health Services Union secretary Diana Asmar from using union cash to fund her defence against allegations of illegitimate reimbursements at the union’s Victorian branch.
Big Four bank ANZ and superannuation trustee OnePath will pay $50 million to settle a class action brought on behalf of super members allegedly charged excessive fees.
A settlement has been reached on the eve of trial in a class action against ANZ and OnePath alleging they slugged super fund members with excessive fees.
Four proceedings over COVID-19 business interruption losses will be stripped of class action status, with a judge saying most of the common issues were already determined in test cases.
An ex-worker at DVD manufacturer Technicolor has won more time to bring claims against her former employer, with a judge finding her 10-year delay was the result of potentially negligence by Nowicki Carbone and Maurice Blackburn.
A class action targeting Westpac subsidiary BT Funds Management and Tal Life Insurance is set to be discontinued less than a year after it was filed.
A ruling this week that kept intact a contingency fee rate of 27.5 per cent sought by Slater & Gordon to run a shareholder class action against G8 Education might encourage law firms to seek higher percentage payouts at the outset of group proceedings in Victoria.
Class action settlement approval hearings are not a time for the court to second guess a law firm’s contingency fee as set down in a group costs order, a judge has found, but the question of proportionality is still key, and evidence of a firm’s return on investment and hourly fees may be relevant to the final decision.
A judge has signed off on the first-ever settlement allowing a law firm to earn a contingency fee, approving a $12.8 million cut for Slater & Gordon in a shareholder class action against G8 Education.