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Property owners are fighting arguments that claims in a class action over allegedly combustible cladding do not fall under a $190 million insurance policy's definition of property damage, saying installing the cladding was like “dousing one’s house in kerosene”.
Insurer for cladding manufacturer Fairview Architectural, Vero Insurance, will argue a $190 million policy does not cover claims in a class action alleging combustible cladding caused losses for property owners, a court has heard.
Two law firms that filed competing class actions against regenerative medicine company Mesoblast for allegedly misleading shareholders about its Remestemcel-L treatment for COVID-19 complications have agreed to join forces and sidestep a beauty parade.
A judge has ordered that the lead applicant in a class action against German cladding manufacturer 3A Composites give further details on how its allegedly combustible cladding caused losses for property owners.
The settlement figure in a class action against a unit of Suncorp Group has been revealed as $33 million, and super members are set to share in the net sum of $14 million, or 42.5 per cent of the deal.
The funder and law firm running a shareholder class action against recycling company Sims Limited are seeking more than 57 per cent of a $29.5 million settlement for commission and costs, including an insurance policy to cover the risks of losing the case.
Recycling company Sims Limited will pay $29.5 million to settle a shareholder class action alleging earnings guidance for FY16 failed to account for the likely prospect of falling scrap metal prices.
Regenerative medicine company Mesoblast has been hit with a second class action for allegedly misleading shareholders about it Remestemcel-L treatment for COVID-19 complications.
The litigation funder backing two combustible cladding class actions has sold a third of its investment in the cases to a player in the nascent secondary market for class action financing.
A unit of Suncorp Group has reached an in-principle settlement in a class action over alleged conflicted remuneration on the first day of an expected 25-day trial.